Tokyo Stocks Open Higher With Eyes On Central Bankers Meet
Fahad Shabbir (@FahadShabbir) Published August 25, 2017 | 10:15 AM
Tokyo stocks opened higher on Friday, as the yen declined modestly against the dollar while traders looked to a major central bankers' meeting later in the day
TOKYO, , (APP - UrduPoint / Pakistan Point News - 25th Aug, 2017 ) - Tokyo stocks opened higher on Friday, as the Yen declined modestly against the Dollar while traders looked to a major central bankers' meeting later in the day.
Analysts pointed to unease over the central bank summit in Jackson Hole, Wyoming in the United States that could signal a more dramatic shift away from the easy money policies of recent years. At the same time, analysts are watching to see if Federal Reserve chair Janet Yellen emphasises low inflation, which would be seen as a signal the US central bank could abandon plans for a third interest rate hike after two earlier rises.
European Central Bank officials have also highlighted the higher euro Currency as a concern, a point that could affect plans to unwind its stimulus programme.
The dollar fetched 109.55 yen in Asian trade, slightly up from 109.26 yen in New York late Thursday.
"Investors are likely taking a wait-and-see attitude ahead of speeches by Fed chair Yellen and ECB president (Mario) Draghi at the Jackson Hole summit," Okasan Online Securities said in a commentary, adding a lower yen would provide some support to Japanese shares.
A lower yen is positive for Japanese exporters as it inflates their repatriated profits and boosts their price competitiveness. The benchmark Nikkei 225 index gained 0.20 percent, or 38.97 points, to 19,392.74 in the first minutes of trade while the Topix index of all first-section issues was up 0.12 percent, or 1.90 points, at 1,594.10.
Related Topics
Recent Stories
Saka and Odegaard start for Arsenal, Guerreiro in Bayern midfield
Qatar PM says re-evaluating Israel-Hamas mediation role
Govt spokesperson terms allegations of PTI's Marwat against Saudi Arabia 'heinou ..
Minister appreciate UAE’s support for Pakistan economic challenges
Manchester City v Real Madrid Champions League starting line-ups
MIGA's support Pakistan in attracting foreign investments: Federal Minister for ..
Walker returns to captain Man City for Real Madrid clash
Action taken against price list violations in Khanewal district
DC chairs review meeting of DEG
Turkey accuses Israel's Netanyahu of using war 'to stay in power'
Pakistan ranked 5th most vulnerable country to climate change. Tirmizi
Nadal comeback ends in Barcelona Open second round
More Stories From World
-
EU weighs response to Russian 'interference' in election runup
23 minutes ago -
Going 'backwards'? Whistleblowers slam Boeing safety culture
33 minutes ago -
US to reimpose oil sanctions on Venezuela: officials
53 minutes ago -
NBA bans Raptors forward Jontay Porter for life over gambling violations
53 minutes ago -
20,000 rally in Georgia as MPs advance controversial 'foreign influence' law
1 hour ago -
Scholz urges other EU leaders to send Ukraine air defences
1 hour ago
-
No end in sight to Libya crisis after UN envoy quits
2 hours ago -
Ecuador tells workers to stay home amid energy crisis
2 hours ago -
Mayorkas impeachment trial begins in US Senate
2 hours ago -
House Republicans finally announce vote for $61 bn in Ukraine aid
3 hours ago -
Qatar PM says re-evaluating Israel-Hamas mediation role
3 hours ago -
Turkey accuses Israel's Netanyahu of using war 'to stay in power'
3 hours ago