Tokyo: Stocks close higher on profit-taking

[TOKYO] Tokyo stocks closed higher on Monday on profit-taking, as investors assessed the impact from eased, but still lingering, worries over Brexit and the US-China trade war.

The benchmark Nikkei 225 index rose 0.56 per cent, or 118.85 points, to 21,318.42 at the close, while the broader Topix index ended higher by 0.91 per cent, or 14.01 points, at 1,551.11.

"The issues of Britain's exit from the European Union and the trade friction between the US and China eased last week but are still lingering and investors are eager to know what will happen," Mizuho Securities said in a note.

Given the lack of fresh market-moving news, trade was moving in a narrow range, it added.

The dollar fetched 106.89 yen in Asian trade, against 106.95 yen in New York late Friday.

In Tokyo, electronics were higher, with Sony ending up 2.13 per cent at 6,496 yen and Canon up 0.60 per cent at 2,809 yen.

Banks were also higher with Mitsubishi UFJ up 1.00 per cent at 525 yen and Sumitomo Mitsui Financial up 0.34 per cent at 3,538 yen.

Nissan was down 0.22 per cent at 672.5 amid reports that its chief executive plans to resign after admitting he received more pay than he was entitled to.

Its rival Toyota closed up 0.88 per cent at 7,092 yen while Honda ended down 0.25 per cent at 2,727 yen.

AFP