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The Nikkei average rose for the first time this week

2018-07-06 06:49 am | Resource: NEWS | No Views : 192

The Nikkei average rose for the first time this week on Friday as investors worried about reports that the United States and the European Union may agree to suspend tariffs on cars, leading to short coverage of cyclical stocks such as automakers.

Essai, the co-creator of the drug, was in the limelight where he jumped 19 percent. Peugeot said the final analysis of the mid-stage test of Alzheimer's disease showed positive results for patients who received the highest dose.

The Nikkei  rose 0.8 percent to 21,720.41 in mid-morning trade, ending a four-day losing streak. The index fell 2.9 percent for the week so far, heading for a third consecutive weekly decline.

German Chancellor Angela Merkel said she would support a reduction in European tariffs on imports from US cars. An industry source told Reuters the US ambassador in Germany had told German car managers that US President Donald Trump could give up tariffs on European cars if the European Union cancels fees for US-made cars.

"The market appears to be priced in this news on trade war issues right now," said Hikaru Sato, senior technical analyst at Daiwa Securities. But fears about the trade war are not yet over. The market continues to warn based on the headlines they watch. "

The market remained cautious ahead of Washington's implementation of its threatened tariffs on Chinese goods and the US jobs report due later in the day.

The United States is set to begin collecting customs duties on Chinese goods worth 34 billion dollars at 0401 GMT on Friday. The focus shifted to how China would avenge and potentially destabilize the global financial markets.

Friday's gainers included automakers, with Toyota Motor up 1.6 percent, Subaru Corp up 2.1 percent and Honda Motor up 1.9 percent.

Other exporters followed suit. Advantest Corp. jumped 2.5 percent and TDK Corp. rose 2.9 percent. The broader TOPIX index was up 0.6 percent at 1,685.66.

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