Tokyo stocks go up

21 February, 2019 12:00 AM printer

TOKYO: Tokyo stocks rose for a third straight session on Wednesday, supported by a solid performance on Wall Street and hopes for progress in US-China trade talks.

The benchmark Nikkei 225 index added 0.60 percent, or 128.84 points, to close at 21,431.49 while the broader Topix index was up 0.43 percent, or 6.95 points, at 1,613.47.

“Investors were encouraged by growing expectations that the US-China trade talks will make progress,” Toshikazu Horiuchi, a broker at IwaiCosmo Securities, told AFP.

Tokyo shares opened higher after Wall Street stocks scraped out narrow gains on Tuesday on strong Walmart earnings and continued optimism over the trade talks which resumed in Washington aimed at ending a damaging tariff war between the economic superpowers.

US President Donald Trump said the talks were “going very well” but were “very complex”. The dollar firmed to 110.80 yen in Asian afternoon trade from 110.58 yen in New York Tuesday afternoon.

In individual stocks trade, Honda gained 0.63 percent to 3,033 yen after announcing it would shut down its British plant.