Tokyo stocks mixed on Wall Street gains, higher interest rates

The Mainichi

2 days ago

TOKYO (Kyodo) -- Tokyo stocks were mixed Tuesday morning as buying was supported by overnight gains on Wall Street, but the market was weighed down by a rise in Japanese long-term interest rates.
The 225-issue Nikkei Stock Average rose 76.18 points, or 0.20 percent, from Monday to 37,546.85. The broader Topix index was down 3.31 points, or 0.12 percent, at 2,773.98.
The U.S. dollar climbed to the lower 143 yen range, as the yen was sold on speculation that the Bank of Japan will be cautious about additional interest rate hikes after its chief Kazuo Ueda said the central bank will not raise rates unless the economic and price situations are expected to improve.
At noon, the dollar fetched 143.11-12 yen compared with 142.65-75 yen in New York and 142.90-91 yen in Tokyo at 5 p.m. Monday.
The euro was quoted at $1.1424-1426 and 163.49-53 yen against $1.1437-1447 and 163.31-41 yen in New York and $1.1423-1425 and 163.24-28 yen in Tokyo late Monday afternoon.
The Nikkei stock index climbed after U.S. shares advanced on hopes of easing trade tensions between the United States and China after the White House said President Donald Trump is likely to speak with Chinese leader Xi Jinping this week.
However, gains were capped as the yield on the benchmark 10-year Japanese government bond rose, fueling concerns about higher borrowing costs.