Tokyo stocks close higher helped by cheaper yen
Tokyo stocks closed higher on Tuesday helped by a cheaper yen against the dollar, as worries over a no-deal Brexit and the US-China trade war receded.
The benchmark Nikkei 225 index ended up 0.35% at 21 392.10 while the broader Topix index was up 0.44% at 1 557.99 at the close.
The dollar fetched ¥107.37 in Asian trade, against ¥107.23 in New York and ¥106.89 in Tokyo on Monday.
"Resumption of US-China trade talks and rallies in US 10-year bond yields are helping the dollar edge up against the yen," Rikiya Takebe, senior strategist at Okasan Online Securities, said in a commentary.
Strong British GDP data and MPs blocking a hard Brexit from the European Union without a deal are supporting the pound and helping create a cheaper yen, he added.
The cheaper yen supported Japanese shares but profit-taking sales later weighed on the market, analysts said.
In Tokyo, steel makers were among winners, with JFE jumping 4.25% to ¥1 335.5 and Nippon Steel gaining 2.62% to ¥1 542.5.
Nissan rallied 3.71% to ¥697.5 after its chief executive said he will step down following the revelation he received more pay than he was entitled to.
Its rival Honda was also higher, ending up 2.34% at ¥2 791, while Toyota was up 1.28% at ¥7 183.