Tokyo stocks rise

20 Feb, 2019

Tokyo stocks rose Tuesday on growing expectations the US and China can strike a deal ending their trade dispute as the two countries prepared to continue negotiations. The benchmark Nikkei 225 index gained 0.10 percent, or 20.80 points, to close at 21,302.65, while the broader Topix index was up 0.28 percent, or 4.56 points, at 1,606.52.
"There is a high expectation of progress on a US-China trade deal as they will continue negotiations," Daiwa Securities senior technical analyst Hikaru Sato told AFP.
Top-level officials from the world's two biggest economies will reconvene in Washington after a series of negotiations in Beijing last week, with the US side telling Donald Trump they had been "very productive".
Bargain-hunting also helped support the Tokyo market, Sato added.
Trade was in a narrow range with investors watching the dollar-yen exchange rate and the Chinese market.
New York markets were on Monday shut for Presidents' Day, and thin European trading volumes reflected the absence of US investors on the holiday.
The dollar fetched 110.61 yen in Asian afternoon trade, against 110.59 yen in London time.
In Tokyo, Honda rose 0.36 percent to 3,014 yen following news reports that it would announce the shutdown of its plant in southwest England.
Sony jumped 1.35 percent to 5,149 yen but Nintendo fell 1.01 percent to 29,375 yen.
China-linked shares were also lower after rallies in the previous session, with construction machine maker Komatsu down 0.95 percent at 2,738 yen and electronic parts maker Rohm down 2.18 percent at 7,600 yen.

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