Tokyo stocks close up 0.13pc
October 22, 2013 - 9:15:32 am
TOKYO: Tokyo stocks closed up 0.13 percent on Tuesday as dealers await the release of US jobs data later in the day.
The benchmark Nikkei 225 index inched up 19.68 points to 14,713.25, while the Topix index of all first-section shares was also marginally higher, adding 0.17 percent, or 2.08 points, to 1,214.44.
The September jobs report, which was due at the start of the month but delayed because of the government shutdown will be pored over by analysts for clues about the state of the economy as well as the Federal Reserve's plans for its stimulus programme.
The US central bank has said it will only start winding down the bond-buying scheme once the economy is strong enough.
However, analysts say they expect the shutdown has put off any such move until the new year.
The Nikkei's rise was supported by a weaker yen, which helps the country's exporters.
In the afternoon in the dollar bought 98.33 yen compared with 98.15 yen in New York Monday.
"Players may be pricing in a good non-farm payrolls report," said an equity trading director at a foreign brokerage.
"If it is good, then perhaps US Fed tapering might kick off sometime by next spring."
Nomura Securities strategist Naka Matsuzawa said recent rises on Wall Street following a resolution to the US government shutdown suggested the economic outlook had not deteriorated.
Rather, risk-on sentiment among investors has strengthened a short-term plus for Japanese stocks, he added.
In share trading, Toyota rose 1.11 percent to 6,370 yen after the world's biggest automaker said a joint venture in China would expand its product line.
Among other exporters Sony was up 0.72 percent at 1,935 yen and Canon added 0.62 percent to 3,205 yen. (AFP)