Topix Rebounds on Renewed Expectation for U.S.-China Trade Talks

(Bloomberg) — Japanese stocks rose on Tuesday morning, after investors saw some signs that U.S.-China trade negotiations are moving forward.

Electric appliance, chemical and transportation equipment companies provided the biggest boosts to the benchmark gauge.

U.S. President Donald Trump said at the White House that trade talks with China have been going well, though “we’ll see whether or not a deal can be made.“ Earlier, Fox News, citing the Chinese Commerce Ministry, reported that China is prepared to set a timetable for working out more difficult issues next year in trade talks with the U.S.

The Trump administration also put eight Chinese technology companies — including surveillance companies Hangzhou Hikvision Digital Technology Co. and Zhejiang Dahua Technology Co. — on a U.S. blacklist, accusing them of being implicated in human rights violations.

“China appears to be showing its firm stance on trade without leaving the negotiation table,” said Hideyuki Ishiguro, senior strategist at Daiwa Securities Co. “If they work on the deal one step at a time and reach a final agreement, it would be positive for the market.”

Summary

• +0.7% to 1,584.28 as of 9:38 a.m. in Tokyo
• +0.9% to 21,572.80
• Yen -0.1% to 107.37 per dollar
• Chemicals +1.2%, Transportation Equipment +1%, Electric Appliances +0.6%
• Bic Camera +4.1%, Onward Holdings +4%

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.