Nikkei rallies on relief China, U.S. may avert full-scale trade war
Thursday, 5 April 2018 13:46 WIB |
MARKET UPDATE |Nikkei 225Saham JepangIndeks acuan Nikkei 225Topix JepangJapan Topix
Japanese stocks rose on Thursday after Wall Street bounced back from a sell-off triggered by an escalating U.S.-China trade spat, sending most sectors into positive territory.
The Nikkei gained 1.5 percent to 21,645.42, trading above its 200-day moving average of 21,359.22.
Wall Street bounced from an initial sell-off on Wednesday, as fears of a trade war between the United States and China eased somewhat after President Donald Trump™s economic adviser Larry Kudlow said the administration was in œnegotiation with China, and not engaged in a trade war.
The broader Topix advanced 1.1 percent to 1,724.61, with 28 of its 33 subsectors rising.
Precision machinery makers, real estate companies and banks outperformed. Terumo Corp rallied 3.9 percent, Canon Inc rose 2.3 percent, Mitsubishi Estate climbed 2.3 percent, while Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group both advanced 1.9 percent.