Japanese Stocks Rebounded and Closed Higher on Tuesday
Japan stocks recover after a short confusion over the China-US trade agreement. Japanese stocks rebounded and closed higher on Tuesday after a short-lived volatility in the market following confusing comments from the White House on the trade deal between the United States and China.
The Nikkei ended up 0.5 percent to 22549.05 points.
Initially, the market tracked the gains of the three major Wall Street indices, with a batch of technology shares, as investors focused on the government’s potential further stimulus measures.
Earlier in the session, the Tokyo market fell after White House trade advisor Peter Navarro said the trade agreement with China was “over”, partly because Beijing was not warning of an outbreak of the Corona virus early.
But investor concerns quickly subsided after Navarro made clear that his remarks were carved out of context.
Soon after, US President Donald Trump confirmed in a tweet on Twitter that the trade agreement with China was “still in place.”
The broader Topix index gained 0.51 percent to 1,587.14 points, and about 75 percent of the 33 sub-sector indices rose on the Tokyo Stock Exchange.
Sub-sector indices led the auto component producers gains 1.36 percent after local media reported yesterday that the Chinese government will include hybrid cars in a new category for environmentally friendly cars.
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Japanese Stocks Rebounded and Closed Higher on Tuesday - /10
Japan stocks recover after a short confusion over the China-US trade agreement.