Tokyo stocks climb on hopes US-China trade tensions ease
TOKYO (Kyodo) -- Tokyo stocks climbed Friday on hopes of easing U.S.-China trade tensions after the leaders of the world's two largest economies agreed to resume talks soon.
The 225-issue Nikkei Stock Average ended up 187.12 points, or 0.50 percent, from Thursday at 37,741.61. The broader Topix index finished 12.86 points, or 0.47 percent, higher at 2,769.33.
On the top-tier Prime Market, gainers were led by construction, iron and steel, and land transportation issues.
The U.S. dollar briefly strengthened to the lower 144 yen range in Tokyo, supported by receding concerns about the U.S. economic outlook after President Donald Trump and Chinese President Xi Jinping held phone talks, dealers said.
Stocks of some companies operating in China rose as talks between the U.S. and Chinese leaders raised hopes for progress in tariff negotiations and eased concerns about the levies' economic impact, brokers said.
"Even a slight easing of tensions helped lift such shares," said Masahiro Yamaguchi, head of investment research at SMBC Trust Bank. "But buying lacked energy as investors were uncertain on whether the talks are really heading in a good direction."
The market was also supported by gains in export-oriented auto and machinery shares, as the weaker yen raised expectations of stronger overseas earnings when repatriated.
Meanwhile, many investors adopted a wait-and-see stance ahead of key U.S. jobs data due later in the day after employment-related figures released earlier this week came in weaker than expected, brokers said.
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