Tokyo stocks opened higher on Wednesday, tracking gains in the United States as investors looked for clues about when the Federal Reserve will begin to taper its stimulus program. The benchmark Nikkei 225 index was up 0.4 percent at 18,849.14 points by 0700 GMT.
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Tokyo stocks open higher as Wall Street eyes Fed meeting minutes
Tokyo stocks opened higher Wednesday as Wall Street eyes Federal Reserve meeting minutes that could show the US central bank plans to raise interest rates this year. The benchmark Nikkei 225 stock index rose 0.9 percent, closing at 22,495.50 points. The Topix index of all first-tier shares climbed 1.1 percent to 1,778.93 points.
“There’s been a lot of expectation that the Fed will announce this week that it plans to raise interest rates by 0.25 percentage point at their June meeting and possibly again in September,” said Richard Koo, chief economist for Asia Pacific at Nomura Securities Inc. “If they don’t do that, there’s a good chance that the market would go into another sell-off.”
The yen weakened against the dollar after data showed Japanese exports surged in May while imports grew more slowly than expected, suggesting that domestic demand is strengthening even as the global economic slowdown weighs on demand overall. The greenback was also supported by Tuesday’s strong jobs report which showed ADP employment growth topping forecasts and wages rising at their fastest pace in nine years.
“In terms of policy signals, we’re looking for a hawkish statement
US markets rally as trade war unlikely to derail economic growth
US markets rallied as trade war unlikely to derail economic growth as investors appear to have priced in the potential for a prolonged trade dispute. The S&P 500 opened higher yesterday, with sectors such as technology and utilities seeing strong performance. Meanwhile, the yen weakened against the US dollar, reflecting optimism over the prospects for global growth. Overall, this is good news for stocks in Japan, as US equities are seen as a leading indicator of global market movements.
Apple is the top performer on the Tokyo Stock Exchange
Tokyo stocks opened higher on Friday tracking Wall Street’s gains, as investors looked to Asia’s largest economy for clues to the global economic outlook. The benchmark Nikkei 225 index rose 0.5 percent, while the TOPIX tech-heavy index added 1.4 percent. Apple Inc was the top performer on the Tokyo Stock Exchange, rising 2.9 percent after President Donald Trump said he would cut taxes on corporate earnings repatriated from abroad.
Japanese yen slips against the US dollar
Wall Street stocks rose on Friday, extending a rally that began in early December as the Federal Reserve continued to hint at possible interest rate hikes. The S&P 500 index rose 0.9 percent, the Dow Jones industrial average added 0.8 percent and the Nasdaq composite advanced 1.5 percent. The yen weakened against the US dollar, with one dollar buying 113.10 yen at 6:05 p.m. in Tokyo, compared with 111.27 yen late Thursday in New York. The Nikkei 225 stock average rose 0.8 percent and the Topix index of leading Japanese shares gained 1.3 percent. Economists surveyed by Reuters had forecast a rise of 0.7-0.8 percent for the S&P 500 and a gain of 0.6-0.7 percent for the Dow Jones industrial average on Friday.
Meanwhile, Japanese government bond yields were little changed in early trade as investors assessed whether December’s hefty stock market rally would push up borrowing costs.
“The Fed has been signaling that they may hike rates sooner than initially anticipated,” said R
