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Japan shares firm on trade optimism, Topix hits 5-month high

Published 09/24/2019, 11:42 AM
Updated 09/24/2019, 11:50 AM
Japan shares firm on trade optimism, Topix hits 5-month high
JP225
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ESM24
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TOPX
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4661
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IMING.T
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ISHIP.T
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TOKYO, Sept 24 (Reuters) - Japanese shares rose on Tuesday
after U.S. Treasury Secretary said U.S.-China talks will resume
in early October and investors bought ahead of companies going
ex-dividend later in the week.
The benchmark Nikkei average .N225 gained 0.2% to
22,131.77 points by the midday break, not far from its
five-month peak touched on Thursday, while the broader Topix
.TOPX advanced 0.6% to 1,625.77, its highest level since April
24.
U.S. stock futures ESc1 climbed 0.3%, helped by comments
from Treasury Secretary Steven Mnuchin that U.S.-China trade
talks will resume next week. He later clarified that the
negotiations will take place in two weeks.
Market players said that Japanese the Topix futures were in
demand by index and mutual funds before many stocks go
ex-dividend on Friday.
However, a slowing global economy remained a headache for
financial markets, as poor business activity readings from the
euro zone deepened fears of a recession and suggested more
stimulus was required. Mining .IMING.T and sea transport .ISHIP.T were among
the worst performing sectors of the Tokyo bourse's 33 subsector
indexes, down 1.3% and 0.6%, respectively.
Elsewhere, Oriental Land Co 4661.T jumped 2.5% after the
Tokyo Disney Resort operator announced it would raise theme park
admission fees from Oct. 1.

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