Japan Nikkei rises 0.8%

Headline indices of the Japan share market were higher for the first time in straight four sessions on Tuesday, 30 October 2018, as investors chased for beaten down stocks on the back of yen depreciation to lower 112 zone against greenback and better than expected unemployment data. However, market gains were modest amid fresh worries over Sino-U.S. trade frictions after reports the U.S. is planning an additional $257 billion worth of tariffs on Chinese goods if upcoming talks between Presidents Donald Trump and Xi Jinping fail to end the trade war. Total 30 issues of the TSE33 issues inclined, while remaining 3 issues were in red, with shares in Pulp & Paper, Other Financial Business, Machinery, Electric Appliances, and Banks issues being notable losers, while Mining, and Electric Power & Gas issues were notable gainers. In late afternoon trades, the 225-issue Nikkei index inclined 166.53 points, or 0.8%, at 21,316.33. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 12.73 points, or 0.8%, to 1,602.29.

CURRENCY NEWS: Japanese yen, widely viewed as a safe haven currency, was tad depreciated in the lower 112 zone against greenback on Tuesday. The dollar was quoted at 112.34-35 yen compared with 112.33-43 yen in New York and 111.92-94 yen on Monday in Tokyo. The euro, meanwhile, fetched 127.79-83 yen against 127.77-87 yen in New York and 127.68-72 yen in Monday trade in Tokyo.

OFFSHORE MARKET: US stock market closed lower on Monday, amid worries about renewed trade tensions between the U.S. and China as well as on lower crude oil prices. Investors are concerned that corporate earnings may peak this quarter as borrowing costs rise with the US Federal Reserve expected to raise interest rates by 25 basis points in December, followed by another two possible hikes in 2019. The Dow Jones Industrial Average slumped 245.39 points or 1% to 24,442.92, the Nasdaq tumbled 116.92 points or 1.6% to 7,050.29 and the S&P 500 fell 17.44 points or 0.7% to 2,641.25.

European markets ended higher on Monday. The French CAC 40 Index rose by 0.4%, the German DAX Index and the U.K.'s FTSE 100 Index jumped by 1.2% and 1.3%, respectively.

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