TOKYO (Kyodo) — Tokyo stocks climbed Tuesday morning, lifted by heavyweight technology shares tracking gains in their U.S. counterparts overnight and hopes for progress in U.S.-China trade talks.
The 225-issue Nikkei Stock Average rose 385.40 points, or 1.01 percent, from Monday to 38,473.97. The broader Topix index was up 16.78 points, or 0.60 percent, at 2,802.19.
The U.S. dollar briefly rose to the lower 145 yen range in Tokyo, lifted by hopes for easing tensions between the United States and China as the world’s two largest economies prepare to hold trade talks for a second day on Tuesday, dealers said.
At noon, the dollar fetched 144.91-96 yen compared with 144.56-66 yen in New York and 144.12-14 yen in Tokyo at 5 p.m. Monday.
The euro was quoted at $1.1399-1400 and 165.18-25 yen against $1.1414-1424 and 165.05-15 yen in New York and $1.1422-1424 and 164.62-66 yen in Tokyo late Monday afternoon.
Stocks climbed after senior U.S. officials made positive remarks following the conclusion of the first day of high-level trade talks in London between Washington and Beijing on Monday, brokers said.
The weaker yen also helped lift export-oriented auto and machinery issues as the yen’s depreciation increases exporters’ overseas profits when repatriated.