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Tokyo stocks up in morning on weaker yen despite US tariff concern
MAINICHI
| 12 jam yang lalu
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TOKYO (Kyodo) -- Tokyo stocks rose Wednesday morning, led by buying of export-related shares on a weaker yen, but gains were limited amid concern over the impact of U.S. tariff policies.
The 225-issue Nikkei Stock Average rose 105.72 points, or 0.29 percent, from Tuesday to 36,898.83. The broader Topix index was up 25.14 points, or 0.94 percent, at 2,695.86.
The U.S. dollar rose to the lower 148 yen range in Tokyo, as the yen, seen as a safe-haven asset, was sold on prospects of easing geopolitical risks after Ukraine expressed its readiness to accept a U.S. proposal for a 30-day cease-fire in the war with Russia, dealers said.
At noon, the dollar fetched 148.02-06 yen compared with 147.73-83 yen in New York and 146.91-93 yen in Tokyo at 5 p.m. Tuesday.
The euro was quoted at $1.0903-0904 and 161.39-44 yen against $1.0914-0924 and 161.30-40 yen in New York and $1.0889-0891 and 159.98-160.02 yen in Tokyo late Tuesday afternoon.
Stocks were supported by a weaker yen that attracted buying of some export-linked issues as it boosts exporters' profits when repatriated. Investors also bought back shares after the Nikkei index ended at a six-month low on Tuesday.
But gains were capped on concern over the impact of U.S. tariffs on steel and aluminum set to be imposed on Wednesday as well as wariness over planned levies on automobiles that are likely affect the Japanese industry, brokers said.
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