Tokyo stocks rise

Tokyo stocks rise

Tokyo, July 8 (IANS) Tokyo stocks opened higher on Friday as investors piled into shares deemed oversold following the market’s three-day losing streak triggered by Brexit concerns and a strong yen.

The 225-issue Nikkei Stock Average added 75.17 points, or 0.49 per cent, from Thursday to 15,351.41, Xinhua news agency reported.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, gained 5.21 points, or 0.42 per cent, to 1,231.30.

Notable issues that advanced form the morning bell included miscellaneous product, transportation equipment and pharmaceutical-linked stocks.

Chinese yuan weakens

Beijing, July 8 (IANS) The central parity rate of the Chinese currency renminbi, or the yuan, weakened 33 basis points to 6.6853 against the US dollar on Friday, according to the China Foreign Exchange Trading System.

In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day, Xinhua news agency reported.

The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Chinese shares open lower

Beijing, July 8 (IANS) Chinese stocks opened lower on Friday, with the benchmark Shanghai Composite Index down 0.55 per cent to open at 3,000.33 points.

The smaller Shenzhen index opened 0.06 percent lower at 10,613.71 points, Xinhua news agency reported.

The ChiNext Index, tracking China’s NASDAQ-style board of growth enterprises, was down 0.09 per cent to open at 2,231.97 points.

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