Tokyo stocks opened flat on Monday

Tokyo stocks opened flat on Monday with worries over a US-China trade war partly offset by optimism about the US economy.

The benchmark Nikkei 225 index edged up just 0.20 points to 22,517.03 in early trade, while the broader Topix index was down 0.11 percent or 1.95 points at 1,742.88.

Falls in Japanese shares come after world stock markets mostly climbed on Friday despite rising trade tensions, with the Dow snapping an eight-session losing streak, closing up 0.5 percent at 24,580.89.

On Monday, the dollar fetched 109.85 yen against 109.98 yen in New York later Friday.

“Concerns over a trade war have been weighing on the Japanese market, but we don’t think the impact is grave enough to hit the US economy immediately,” said Tsuyoshi Nomabuchi, a Daiwa Securities strategist.

“The biggest challenge for Japanese companies will be trade negotiations linked to the auto industry,” he added.

“Falls in the Chinese market so far have had limited impact on the Japanese and US share prices, but this should be kept in mind as a potential risk.”

In Tokyo, telecom giant SoftBank was down 1.14 percent to 8,301 yen and automaker Nissan was down 0.37 percent, while construction machinery giant Komatsu rose 1.76 percent to 3,167 yen and Hitachi gained 0.68 percent to 788.4 yen.

Avatar

This article has been posted by a News Hour Correspondent. For queries, please contact through [email protected]
No Comments

Translate this News

Join the Facebook Group

Click here to join the Facebook group of News Hour

Popular Posts

Sacred Games exposes Rajshri Deshpande nude [video]
Paperfly launches delivery services covering 64 districts in Bangladesh
Banglalink launches digital entertainment platform Toffee
Anurag Kashyap shoots Kubra Saith 7 times nude and made her cry for frontal nudity scene [Video]
2018 Nobel Literature prize postponed over Academy sex scandal
Samsung Bangladesh announced exciting offers at Dhaka International Trade Fair 2019

Advertisement

News of the Month

Scroll Up
%d bloggers like this: