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Tokyo stocks open higher as investors await US vote results

Tokyo stocks open higher as investors await US vote resultsTOKYO: Tokyo stocks opened higher on Wednesday tracking rallies in New York, but investors were waiting for results in US midterm elections seen as a referendum on President Donald Trump.

The benchmark Nikkei 225 index was up 0.10 percent or 21.08 points at 22,168.83 in early trade, while the broader Topix index was up 0.14 percent or 2.37 points at 1,661.72.

“The results of the US midterm election will likely become clear during the afternoon and we’ll see how the market reacts,” senior market analyst Toshiyuki Kanayama of Monex said in a commentary.

The dollar fetched 113.34 yen in early Asian trade, against 113.46 yen in New York late Tuesday.

“These midterms were never really expected to be a remarkable market event… but a shock on either side could spring forex markets out of this November slumber,” Stephen Innes, head of trading for Asia-Pacific at Oanda, said in a commentary.

In Tokyo, Toyota was up 0.37 percent at 6,655 yen after it upgraded its full-year forecast to 2.3 trillion yen ($20.3 billion) from its earlier estimate of 2.12 trillion yen.

Its rival Nissan was down 0.29 percent at 1,029.5 yen ahead of its earnings report due Thursday.

Panasonic was up 1.86 percent at 1,201 yen and game giant Nintendo was up 1.10 percent at 35,730 yen.

On Tuesday, Wall Street stocks rose after a quiet session, with the Dow closing up 0.7 percent at 25,637.25.

Copyright AFP (Agence France-Press), 2018

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Source: Brecorder

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