Saturday, 05 December 2020

PRESIDENT XI JINPING: Tokyo stocks open lower ahead of Xi speech

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Tokyo stocks opened lower Tuesday as investors waited for a speech by Chinese President Xi Jinping at an Asian forum amid trade tensions with the United States.

 

The benchmark Nikkei 225 index fell 0.42 percent or 92.06 points to 21,586.20 in early trade while the broader Topix index was down 0.30 percent or 5.25 percent at 1,720.63.

Traders were in a “wait-and-see mood … after volatile trade in US stocks and ahead of remarks from Chinese President Xi,” said Okasan Online Securities chief strategist Yoshihiro Ito in a commentary.

Investors were waiting to see whether Xi would mention the brewing trade row with the United States during a speech at the Boao Forum dubbed the Asian Davos later Tuesday.

The dollar was trading at 106.65 yen against 106.75 yen in New York Monday afternoon.

 

 

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