TOKYO, Oct 8 ― Tokyo stocks opened higher today helped by a cheaper yen but trade was cautious ahead of the resumption of US-China trade talks this week.
The benchmark Nikkei 225 index was up 0.53 per cent or 113.38 points at 21,488.63 in early trade, while the broader Topix index was up 0.52 per cent or 8.17 points at 1,580.92.
The latest round of high-level talks are due to begin Thursday, with Beijing's top trade envoy Liu He meeting with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, the White House said in a statement.
“This week investors are awaiting the result of the US-China trade talks and the Nikkei index will not likely move dramatically,” Okasan Online Securities said in a commentary.
The dollar fetched ¥107.25 (RM4.19) in early Asian trade, against ¥107.29 in New York.
Among major shares in Tokyo, SoftBank Group was up 0.55 per cent at ¥4,180, Toyota was up 0.98 per cent at ¥7,055 and Fast Retailing, operator of Uniqlo casual wear, was up 0.81 per cent at ¥60,940.
Official data released today showed a mixed picture of the Japanese economy.
Japan's household spending in August increased 1.0 per cent from a year earlier, the ninth consecutive monthly rise, according to the internal affairs ministry data released minutes before the opening bell.
However, separate data from the labour ministry showed that salaries in August slipped a real 0.8 percent year-on-year, the eighth consecutive monthly decline.
On Wall Street, the Dow ended down 0.4 per cent at 26,478.02. ― AFP
