Tokyo's Nikkei closes up 2.6% on cheap yen, shutdown deal
Tuesday, February 12, 2019       14:14 WIB

Tokyo, Feb 12, 2019 (AFP)
Tokyo stocks closed higher on Tuesday following reports that US lawmakers had agreed in principle to avoid a government shutdown, with the market also helped by a cheaper yen.
The benchmark Nikkei 225 index soared 2.61 percent, or 531.04 points, to end at 20,864.21, while the broader Topix index rose 2.16 percent, or 33.20 points, to 1,572.60.
"Tokyo stocks continued to rise after the reports on the US agreement to avoid a goverment shutdown," Okasan Online Securities said in a note.
US Senator Richard Shelby, a key Republican negotiator, told reporters late Monday that lawmakers from the Republicans and Democrats had reached a deal in principle.
The agreement included $1.4 billion in funding for a wall on the US-Mexico border -- a key campaign promise of President Donald Trump.
Okasan added that Tokyo investors were mainly snapping up stock in exporters on the back of a cheaper yen.
The dollar changed hands at 110.56 yen in Asian trade, up from 110.37 yen in New York late Monday and 109.68 yen in Tokyo Friday.
The rally came after Tokyo shares closed down more than two percent on Friday.
The Japanese market was closed on Monday for a public holiday.
Carmakers were generally higher on the Tokyo market, with Toyota up 2.41 percent to 6,605 yen, Nissan 1.87 percent to 931.4 yen ahead of quarterly results and Honda 0.80 percent higher to 2,950 yen.
Toshiba dropped 5.89 percent to 3,195 yen after it indicated it would revise down its full-year operating profit forecast in its third-quarter earnings report due on Wednesday.
SoftBank Group rose 2.44 percent to 10,260 yen after an announcement that its SoftBank Vision Fund will invest nearly a billion dollars in Silicon Valley startup Nuro, which is working on self-driving delivery vehicles.

Sumber : AFP

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