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Japanese shares inch up, weaker yen props up exporters

Published 03/09/2019, 03:07
Updated 03/09/2019, 03:10
© Reuters.  Japanese shares inch up, weaker yen props up exporters
USD/JPY
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JP225
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TOPX
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7011
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4063
-
7270
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6501
-
6752
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9433
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5541
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6954
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5713
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7203
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By Shinichi Saoshiro

TOKYO, Sept 3 (Reuters) - Japanese shares inched up on

Tuesday as a weaker yen propped up exporters, although negative

factors including the U.S.-China trade war and Brexit concerns

curbed market gains.

At 0153 GMT, Japan's Nikkei share average .N225 was up

0.18% at 20,657.81.

There were 157 advancers on the Nikkei index against 62

decliners.

Adding to investor caution already heightened by the

Washington-Beijing trade conflict was the prospect of more

Brexit-related market turmoil.

British lawmakers decide later on Tuesday whether to move

Britain a step closer to an early election, when they vote on

the first stage of their plan to block Prime Minister Boris

Johnson from pursuing a no-deal Brexit. With the yen JPY= edging further away from an eight-month

high against the dollar last week, shares of major exporters

advanced.

Toyota Motor Corp 7203.T climbed 0.8%, Subaru 7270.T was

up 1.7%, Mitsubishi Heavy Industries 7011.T rose 0.5% and

Panasonic 6752.T added 0.7%.

Nickel-related companies gained as the price of the metal

soared to a five-year high due to shortage worries as top

producer Indonesia said it would stop ore exports from January

2020, two years earlier than initially flagged. Sumitomo Metal Mining Co 5713.T rallied 2.8% and Pacific

Metals Co 5541.T climbed 1.9%.

The broader Topix .TOPX gained 0.44% to 1,511.82.

The stocks that gained the most among the top 30 core Topix

names were Shin-Etsu Chemical Co 4063.T , which rose 1.7%, and

Hitachi 6501.T , up 1.6%.

The worst performers among the Topix 30 were Fanuc Corp

6954.T , which lost 1.3%, followed by KDDI Corp 9433.T , down

0.7%.

(Editing by Richard Borsuk)

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