Tokyo Stock Exchange (Kyodo)

Tokyo stocks up in morning on eased fears over US-China trade woes

Harvi
Market & Investment
Japan Market
Aug 14, 2019
1770
TOKYO (Kyodo) -- Tokyo stocks advanced Wednesday morning as concerns over U.S.-China trade tensions eased following a U.S. decision to delay tariffs on some Chinese imports until December.

The 225-issue Nikkei Stock Average rose 129.46 points, or 0.63 percent, from Tuesday to 20,584.90. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 7.66 points, or 0.52 percent, at 1,494.23.

Gainers were led by mining, rubber product and nonferrous metal issues.

Trading was upbeat from the outset, with the Nikkei briefly rising over 200 points, after the Office of the U.S. Trade Representative said Tuesday that imposing a 10 percent tariff on certain Chinese products including cellphones and laptop computers will be delayed to Dec. 15 from Sept. 1.

The announcement came amid growing speculation as the U.S.-China trade conflict heated up in recent weeks that Washington could move to even heavier tariffs, said Maki Sawada, vice president of the investment research and investor services department at Nomura Securities Co.

However, "The tariff delay provided a sense of relief as room for negotiation was created," Sawada added.

Japanese electric appliance and game makers, which make products in China, gained on the tariff delay. Export-related issues were lifted by the yen's retreat against the U.S. dollar.

Apple Inc. supplier Murata Manufacturing advanced 133 yen, or 2.9 percent, to 4,662 yen and game maker Nintendo climbed 1,290 yen, or 3.4 percent, to 39,700 yen.

Among exporters, Mazda Motor rose 13.20 yen, or 1.5 percent, to 894.30 yen, while Subaru gained 61.00 yen, or 2.3 percent, to 2,722.50 yen.

On the First Section, advancing issues outnumbered decliners 1,461 to 607, while 79 ended the morning unchanged.

Source: https://mainichi.jp/english/articles/20190814/p2g/00m/0bu/048000c

Business , Tokyo