This photo shows the Tokyo Stock Exchange. (Mainichi)
TOKYO (Kyodo) — Tokyo stocks were slightly higher Tuesday morning, supported by hopes for progress in tariff talks between Japan and the United States after U.S. President Donald Trump left open the possibility despite announcing Washington will impose a 25 percent tariff on imports from Japan from next month.
The 225-issue Nikkei Stock Average rose 123.61 points, or 0.31 percent, from Monday to 39,711.29. The broader Topix index was up 3.85 points, or 0.14 percent, at 2,815.57.
The U.S. dollar climbed to the lower 146 yen range in Tokyo on yen selling as the U.S. announcement eased expectations of an early interest rate hike by the Bank of Japan, dealers said.
At noon, the dollar fetched 146.09-10 yen compared with 146.02-12 yen in New York and 145.19-20 yen in Tokyo at 5 p.m. Monday.
The euro was quoted at $1.1737-1740 and 171.47-52 yen against $1.1703-1713 and 170.94-171.04 yen in New York and $1.1744-1745 and 170.52-56 yen in Tokyo late Monday afternoon.
The Nikkei stock index remained in the positive territory as sentiment was not significantly dampened after Trump said Monday that a 25 percent tariff on imports from Japan and South Korea will be imposed from Aug. 1.
The market was lifted as export-oriented auto and electronic issues were bought on a weaker yen, which increases exporters’ overseas profits when repatriated.
AloJapan.com