Tokyo stocks hit 14-month high on Wall Street gains, trade deal

TOKYO, Tokyo stocks rebounded on Tuesday, with a key index ending at a 14-month high on overnight gains on Wall Street and expectations of easing US-China trade tensions.

The benchmark Nikkei 225 Stock Average on the Tokyo Stock Exchange (TSE) advanced 113.77 points, or 0.47 percent, from Monday to 24,066.12, its highest finish since Oct.3 2018. The broader Tokyo Stock Price Index, which includes all shares on the market’s First Section on the TSE, was also up 10.33 points, or 0.59 percent, to 1,747.20.

On Monday, major US benchmarks hit record highs, including the Dow Jones Industrial Average and the S&P 500 index, thanks to China’s upbeat industrial output and retail sales data, as well as a preliminary US-China trade agreement. The world’s two largest economies announced Friday that they have reached a “phase one” trade deal.

Source: Kuwait News Agency