Tokyo stocks open higher as worries over Hong Kong, UK ease

Madiha Shakeel September 5, 2019

TOKYO: Tokyo stocks opened higher on Thursday, extending rallies on Wall Street on easing worries over Brexit and positive developments in the Hong Kong crisis.

The benchmark Nikkei 225 index was up 0.97 percent or 201.32 points at 20,850.46 in early trade, while the broader Topix index was up 0.86 percent or 12.99 points at 1,519.80.

“Japanese shares are seen rising on the backdrop of global rallies after political risks waned,” Okasan Online Securities said in a commentary after Hong Kong’s leader withdrew an extradition bill that has sparked massive protests in the city.

Investors were also cheered by moves in Britain to avoid a no-deal Brexit and parliament’s rejection of a motion for a general election, it said.

The dollar fetched 106.44 yen in early Asian trade, against 106.41 yen in New York.

In Tokyo, Nissan was up 0.82 percent at 650.2 yen, shrugging off reports that the automaker’s chief executive received more pay than he was entitled to. Its rival Honda was up 2.13 percent at 2,632.

Electronics were also higher, with Sony gaining 2.08 percent to 6,278 yen, Panasonic trading up 1.91 percent at 838.7 yen and Canon up 1.24 percent at 2,773.5 yen.

Copyright AFP (Agence France-Press), 2019

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