Tokyo stocks open higher ahead of G20

The benchmark Nikkei 225 index was up 0.21 per cent or 45.10 points at 21,131.69 in early trade, while the broader Topix index was up 0.18 per cent or 2.78 points at 1,537.12. — Reuters pic
The benchmark Nikkei 225 index was up 0.21 per cent or 45.10 points at 21,131.69 in early trade, while the broader Topix index was up 0.18 per cent or 2.78 points at 1,537.12. — Reuters pic

TOKYO, June 27 — Tokyo stocks opened higher today boosted by a halt in the yen’s appreciation, with investors focused on this week’s Group of 20 summit and key US-China trade talks.

The benchmark Nikkei 225 index was up 0.21 per cent or 45.10 points at 21,131.69 in early trade, while the broader Topix index was up 0.18 per cent or 2.78 points at 1,537.12.

“After the US market failed to show a clear sense of direction with a wait-and-see attitude ahead of the US-China summit talks, Japanese shares are seen rising helped by a halt in the yen’s rise” against the dollar, Toshiyuki Kanayama, senior market strategist at Monex, said in a note.

Global stocks, including Wall Street shares, treaded water yesterday ahead of key US-China trade talks on the sidelines of the G20 summit in Osaka in western Japan.

In New York, the Dow ended down less than 0.1 per cent at 26,536.82.

The dollar fetched ¥107.67 (RM4.14) in early Asian trade, against ¥107.78 in New York, and up from below 107.50 levels in Tokyo yesterday.

In Tokyo, China-linked shares were higher, with electronic parts maker Rohm rallying 3.93 per cent to ¥7,130 and industrial robot maker Fanuc up 1.36 per cent at ¥19,980.

Automakers were also higher, with Honda gaining 1.40 per cent to ¥2,769.5, Nissan up 1.77 per cent at ¥774.7 and Toyota up 0.45 per cent at ¥6,643.

French President Emmanuel Macron held bilateral talks with Japanese Prime Minister Shinzo Abe late yesterday, reaffirming an alliance that has been tested in recent months after the arrest of auto tycoon Carlos Ghosn, who once headed a partnership of Nissan, Mitsubishi and France’s Renault.

The leaders did not touch on the auto alliance issue during their talks, according to Japanese media reports. — AFP