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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.

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Rand - Dollar
18.93
+0.4%
Rand - Pound
23.61
+0.3%
Rand - Euro
20.24
+0.3%
Rand - Aus dollar
12.22
+0.1%
Rand - Yen
0.12
+0.3%
Platinum
952.20
-0.1%
Palladium
1,044.00
+0.9%
Gold
2,378.29
+0.7%
Silver
28.55
+1.2%
Brent Crude
87.29
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Top 40
66,899
0.0%
All Share
72,995
0.0%
Resource 10
63,378
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Industrial 25
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Financial 15
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