Tokyo stocks edge up | 2019-07-07

Tokyo stocks edge up

6th July, 2019 08:57:20 printer

TOKYO: Tokyo stocks closed marginally higher on Friday in cautious trade ahead of closely watched US jobs data.

The benchmark Nikkei 225 index rose 0.20 percent, or 43.93 points, to 21,746.38. Over the week, it jumped 2.21 percent.

The broader Topix index was up 0.18 percent or 2.80 points at 1,592.58 for a weekly gain of 2.67 percent, reports AFP.

“Today’s trading was dominated by a wait-and-see attitude ahead of the US jobs data,” being released in the US on Friday, said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.

“While we had few trading factors today, stable movement in the yen supported the market,” Horiuchi told AFP.

The dollar fetched 107.92 yen in Asian afternoon trade, against 107.80 yen in London.

In Tokyo, some blue-chip exporters were higher, with carmaker Honda jumping 1.03 percent to 2,836.5 and its bigger rival Toyota up 0.30 percent at 6,889 yen.

Market heavyweight and Uniqlo casual wear operator Fast Retailing was down 0.10 percent at 65,570 yen.

Oil-linked shares were lower after news that a supertanker suspected of carrying crude oil to Syria in violation of EU sanctions was detained in Gibraltar by British commandos. Oil explorer Inpex dropped 1.37 percent to 955.6 yen with its rival JXTG down 0.20 percent at 527.1 yen.

Japan’s household spending was up 4.0 percent year-on-year in May, the sixth consecutive monthly rise, government data released shortly before the opening bell showed.

The boost in spending was partly helped by an unprecedented 10 days of holidays marking the enthronement of the new Japanese emperor.