Tokyo Stocks Close Higher As Iran Worries Ease

Tokyo Stocks Close Higher As Iran Worries Ease
Tokyo Stocks Close Higher As Iran Worries Ease

Tokyo stocks closed higher on Friday, extending rallies on Wall Street as worries over US-Iran tensions receded while investors eyed US job data.

The benchmark Nikkei 225 index gained 0.47 percent, or 110.70 points, to 23,850.57, While the broader Topix index was up 0.35 percent, or 6.11 points, at 1,735.16.

“The Japanese market reacted positively after US stocks ended at records,” Okasan Online Securities said in a commentary.

The gains marked a second straight session of advances on rising confidence that the US and Iran would avoid a conflict, following statements Wednesday by US President Donald Trump and Iranian officials.

Sentiment was further boosted by China’s announcement that Vice Premier Liu He will travel to Washington next week to sign the “phase one” deal with the United States, which has lowered trade tensions between the world’s two biggest economies, analysts said.

Traders also eyed on US job data expected to be released later Friday.

The dollar fetched 109.57 yen in Asian trade, against 109.51 yen in New York late Thursday.

In Tokyo, chip-making equipment manufacturer Tokyo Electron rose 1.44 percent to 24,840 yen and chip-testing equipment maker Advantest climbed 1.11 percent to 6,350 yen.

Some China-linked shares were higher, with industrial robot maker Fanuc gaining 2.35 percent to 20,670 yen and construction machine maker Komatsu advancing 1.21 percent to 2,616 yen.

Uniqlo chain operator Fast Retailing dropped 2.77 percent to 61,990 yen a day after it cut its full-year net profit forecast on sluggish sales in Asia owing to the Hong Kong protests and a boycott of Japanese products in South Korea. AFP 

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