Tokyo Stocks Close Higher 25 Jan 2019

Tokyo stocks closed higher on Friday as investors bought on dips after the benchmark Nikkei fell for the third straight session, with a cheaper yen providing support to the market.

Tokyo, (UrduPoint / Pakistan Point News - 25th Jan, 2019 ) :Tokyo stocks closed higher on Friday as investors bought on dips after the benchmark Nikkei fell for the third straight session, with a cheaper Yen providing support to the market.

The Nikkei 225 index was up 0.97 percent, or 198.93 points, to end at 20,773.56. It climbed 0.52 percent over the week.

The broader Topix index rose 0.87 percent, or 13.50 points, to 1,566.10. It gained 0.55 percent over the week.

"Major shares were bought back on the support of a weaker yen," Yoshihiro Ito, chief strategist at Okasan Online Securities, said in a commentary.

"But investors are also in a wait-and-see mode ahead of major events next week and financial results," he added.

"The market has already shifted its focus to next week's negotiation in Washington," Toshikazu Horiuchi, a broker at IwaiCosmo Securities, told AFP.

A high-level Chinese delegation is due in Washington next week for talks to resolve the dispute by March 1, when US duty rates on Chinese imports are due to rise sharply.

The Dollar changed hands at 109.80 against 109.57 yen in New York on Thursday.

In Tokyo, Nissan jumped 2.45 percent to 927.7 yen after its alliance partner French carmaker Renault named two experienced auto executives to replace detained boss Carlos Ghosn.

Hitachi fell 0.23 percent to 3,381 yen after its chairman reportedly said its frozen nuclear power project in Britain can only be revived if it is nationalised.

Fast Retailing was up 0.42 percent to 49,850 yen while Sony rose 1.23 percent to 5,324 yen.

On Thursday, Wall Street stocks were mixed after US Commerce Secretary Wilbur Ross said the United States and China were "miles and miles" from resolving their trade war.

The Dow Jones Industrial Average finished down 0.1 percent but the broad-based S&P 500 edged up 0.1 percent.