BUSINESS Tokyo shares open higher

BUSINESS

Tokyo shares open higher

AFP

08:59, May 28, 2019

Tokyo shares opened higher Tuesday after US President Donald Trump the previous day avoided a hardline approach on trade in his meeting with Japan's prime minister.

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(File photo: VCG)

The key Nikkei 225 index rose 0.25 percent or 52.97 points to 21,235.55, while the broader Topix index added 0.12 percent or 1.86 points at 1,548.86.

Players searched for fresh incentives with the US and UK markets closed for holidays on Monday.

But other European shares finished higher overnight, leading to the Tokyo market's solid open.

"Today's Tokyo market is expected to remain well supported," Okasan Online Securities said in a commentary.

"In the Japan-US summit meeting yesterday, President Trump said a deal will be struck in August over trade issues. His reference to this specific time frame prompted caution.

"But (Trump) was considerate of Japan's summer election. His friendly ties with Prime Minister (Shinzo) Abe have been maintained.

"His visit to Japan is seen as boosting Prime Minister Abe's support, which is positive for the market," Okasan said.

Trump, on the final day of his four-day state visit Monday, is scheduled to travel to Yokosuka to meet US and Japanese troops.

The dollar stood at 109.59 yen, nearly flat from 109.53 yen seen in Paris Monday.

Among major shares, Toyota rose 0.12 percent to 6,562 yen, Sony added 0.63 percent to 5,457 yen, Nintendo added 0.34 percent to 38,860 yen.

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