Tokyo:Tokyo stocks rose for the third straight session on Tuesday, as investor sentiment improved following rallies on Wall Street with expectations growing for a year-end shopping spree.
The benchmark Nikkei 225 index gained 0.64 percent or 140.40 points to close at 21,952.40, while the broader Topix index was up 0.73 percent or 11.96 points at 1,644.16.
“The Tokyo market took a positive lead from New York, where stocks rallied with a sound beginning to the year-end shopping season,” said Shinichi Yamamoto, broker at Okasan Securities.
Markets were also in bullish mood after oil prices stabilised, Britain sealed a Brexit deal with the EU and Italy signalled a more conciliatory stance in a budget fight with Brussels, analysts said.
“But investors refrained from buying further due to concerns over US-China talks,” Yamamoto said.
“Trading is expected to remain sensitive for now,” he told AFP.
US President Donald Trump said Monday he expected to raise the punitive tariff rates on hundreds of billions in Chinese imports as scheduled next year.
Just days ahead of a planned meeting with Chinese President Xi Jinping, Trump also vowed to put tariffs on all remaining imports from China if the two sides failed to reach a deal, according to The Wall Street Journal.
The dollar fetched 113.45 yen in Asian afternoon trade, against 113.62 yen in New York and 113.21 yen in Tokyo on Tuesday.
In Tokyo, Mitsubishi Motors jumped 1.43 percent at 706 yen after it sacked Carlos Ghosn as chairman, tracking Nissan’s decision to dismiss him after his dramatic arrest last week.
Nissan lost 0.27 percent at 975.7 yen, but Toyota gained 1.79 percent to 6,927 yen and Honda was up 1.48 percent at 3,205 yen.
Messaging app operator LINE surged 12.94 percent to 3,840 yen following news reports that it will launch mobile phone banking services with Mizuho Financial Group, which closed 0.53 percent higher at 187.9 yen.
[source_without_link]AFP[/source_without_link]