Investing.com - Financial Markets Worldwide
Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

Japanese stocks rise to 1-1/2-week high; Seven & I shines

Published 10/11/2019, 10:12 AM
Updated 10/11/2019, 10:20 AM
Japanese stocks rise to 1-1/2-week high; Seven & I shines
JP225
-
TOPX
-
6506
-
3382
-
9983
-

SYDNEY, Oct 11 (Reuters) - The Nikkei's benchmark index
struck its highest in over a week on Friday as the safe-haven
yen eased on hopes of progress in U.S.-China trade talks, and
Seven & I Holdings, Japan's largest convenience store operator,
gained sharply on restructuring plans.
The Nikkei average .N225 gained 0.9% to 21,741.70 in
midmorning trade, its highest level since Oct. 2. For the week,
it was up 1.6% and was on track to post its first gain in three
weeks.
The broader Topix .TOPX added 0.5% to 1,589.14, also
marking its highest since Oct. 2.
Top U.S. and Chinese negotiators wrapped up a first day of
trade talks in more than two months on Thursday, as business
groups expressed optimism the two sides might be able to
de-escalate a trade war and delay a U.S. tariff hike scheduled
for next week. U.S. President Donald Trump told reporters that his team had
a "very, very good negotiation" with China, and reiterated his
plans to meet with Liu at the White House on Friday.
As the retail sector's June-August earnings season got under
way in Japan, notable movers include Seven & I Holdings and Fast
Retailing.
Seven & I 3382.T jumped 5.4% to hit its highest since late
March after announcing massive restructuring plans, including
job cuts and store closures. Nikkei-heavyweight Fast Retailing Co 9983.T climbed 3.4%
as the operator of Uniqlo chain booked a record annual profit
for a third consecutive year on strong sales in China and
forecast further growth in the current business year through
August. Bucking the overall firmness, Yaskawa Electric Corp
6506.T , a bellwether for manufacturing trends, shed 2.5% after
the motor and factory-robot maker slashed its full-year
operating profit forecast.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.