Tokyo shares rise on US-China talks, cheaper yen
Tokyo stocks ended higher Friday, supported by a cheaper yen, the planned resumption of the US-China trade talks and solid US economic data.
The headline Nikkei 225 index added 0.54 percent or 113.63 points to 21,199.57, while the broader Topix index rose 0.17 percent or 2.64 points to 1,537.10.
“With hopes for progress in the US-China trade talks and strong US economic indicators that pushed up US shares, the Japanese market started with gains,” Okasan Online Securities said in a note.
Later trade saw both bargain-hunting purchases and sales on profit-taking, with investors’ focus shifting to key US jobs data due later Friday, it said.
Investors are also closely watching China’s trade data due on Sunday, analysts said.
The dollar fetched 106.96 yen in late Asian trade, unchanged from the level in New York but up from 106.44 yen in Tokyo on Thursday.
Shares in automakers were broadly higher, with Honda jumping 3.01 percent to 2,734 yen, Nissan ending up 2.47 percent at 674 yen and Toyota gaining 0.42 percent at 7,030 yen.
Electronics also gained, with Panaonic ending up 1.83 percent at 850.3 yen and Sharp up 2.77 percent at 1,186 yen.
Market heavyweight Fast Retailing, Uniqlo casual wear operator, closed up 1.81 percent at 65,150 yen.