TOKYO: Tokyo stocks closed higher on Thursday as fears of a US-China trade war eased and the yen weakened against the dollar.
The benchmark Nikkei 225 index rose 1.53 percent, or 325.87 points, to end at 21,645.42, while the broader Topix index was up 1.08 percent, or 18.48 points, at 1,724.61, reports AFP."The bullish sentiment has increased as the trade war between the US and China has entered into a phase of searching for common ground," Yoshihiro Ito, chief strategist at Okasan Online Securities said in a commentary.
The escalating confrontation between Washington and Beijing had inched closer to all-out trade war on Wednesday after China threatened retaliation against key US exports. Beijing unveiled plans for painful import duties targeting politically sensitive US exports, including autos, aircraft and soybeans, to retaliate against looming US tariffs on more than 1,000 Chinese goods.