TOKYO, Japan (AFP) — Tokyo stocks opened higher on Friday as investors bought on dips after the benchmark Nikkei fell for the third straight session.
The Nikkei 225 index was up 0.22 percent, or 45.64 points, at 20,620.27 in early trade, while the broader Topix index rose 0.13 percent, or 2.09 points, to 1,554.69.
“Bargain-hunting can be easily seen at this level of shares,” said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.
But the market remained cautious following downbeat comments on US-China trade relations from a top US official.
On Thursday, Wall Street stocks were mixed after US Commerce Secretary Wilbur Ross said the United States and China were “miles and miles” from resolving their trade war.
The Dow Jones Industrial Average finished down 0.1 percent but the broad-based S&P 500 edged up 0.1 percent.
A high-level Chinese delegation is due in Washington next week for talks to resolve the dispute by March 1, when US duty rates on Chinese imports are due to rise sharply.
“The market has already shifted its focus to next week’s negotiation in Washington,” Horiuchi told AFP.
The dollar changed hands at 109.64 against 109.57 yen in New York on Thursday.
In Tokyo, Nissan jumped 1.71 percent to 921 yen after French carmaker Renault named two experienced auto executives to replace detained boss Carlos Ghosn.
Hitachi gained 0.14 percent to 3,394 yen after its chairman reportedly said its frozen nuclear power project in Britain can only be revived if it is nationalised.
© Agence France-Presse
