Tokyo stocks close higher helped by cheaper yen

Tokyo stocks closed higher on Tuesday helped by a cheaper yen against the dollar, as worries over a no-deal Brexit and the US-China trade war receded.

The benchmark Nikkei 225 index ended up 0.35% at 21 392.10 while the broader Topix index was up 0.44% at 1 557.99 at the close.

The dollar fetched ¥107.37 in Asian trade, against ¥107.23 in New York and ¥106.89 in Tokyo on Monday.

"Resumption of US-China trade talks and rallies in US 10-year bond yields are helping the dollar edge up against the yen," Rikiya Takebe, senior strategist at Okasan Online Securities, said in a commentary.

Strong British GDP data and MPs blocking a hard Brexit from the European Union without a deal are supporting the pound and helping create a cheaper yen, he added.

The cheaper yen supported Japanese shares but profit-taking sales later weighed on the market, analysts said.

In Tokyo, steel makers were among winners, with JFE jumping 4.25% to ¥1 335.5 and Nippon Steel gaining 2.62% to ¥1 542.5.

Nissan rallied 3.71% to ¥697.5 after its chief executive said he will step down following the revelation he received more pay than he was entitled to.

Its rival Honda was also higher, ending up 2.34% at ¥2 791, while Toyota was up 1.28% at ¥7 183.

ZAR/USD
17.00
(-0.09)
ZAR/GBP
21.24
(-0.12)
ZAR/EUR
19.14
(-0.13)
ZAR/AUD
11.81
(-0.13)
ZAR/JPY
0.16
(-0.20)
Gold
1774.74
(+0.03)
Silver
18.05
(+0.01)
Platinum
808.00
(+0.25)
Brent Crude
42.78
(-0.79)
Palladium
1914.01
(+0.62)
All Share
54521.90
(-0.17)
Top 40
50179.89
(-0.26)
Financial 15
10150.02
(-0.64)
Industrial 25
76554.73
(+0.52)
Resource 10
50138.02
(-1.24)
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