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Nikkei tests 4-month high, U.S.-N.Korea summit fuels optimism


Tuesday, 12 June 2018 09:53 WIB

Nikkei 225Saham JepangIndeks acuan Nikkei 225Topix JepangJapan Topix


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Japan's Nikkei share average rose on Tuesday morning, buoyed by optimism the U.S.-North Korea summit taking place in Singapore could pave the way for denuclearisation of the Korean peninsula.

The Nikkei rose rose 0.3 percent to 22,867.41 at morning close, after dipping in negative territory briefly. The Nikkei was just a hair under its four-month high. If it rises above 23,050.39 hit on May 21, it will be the highest since Feb. 2.

The broader Topix gained 0.2 persent to 1,790.79.

Investors were closely focused on the summit under way between U.S. President Donald Trump and North Korean leader Kim Jong Un, as both sides seek to bridge differences and avoid nuclear confrontation on the Korean peninsula.

The U.S. Federal Reserve is almost certain to raise rates again on Wednesday, inching closer to a neutral policy stance, while the European Central Bank is likely to signal on Thursday that it will start to roll back its 2.55 trillion euro bond purchase scheme this year.

The Bank of Japan also concludes a two-day meeting on Friday at which it is widely expected to keep its loose monetary policy intact.

Source: Reuters


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