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Nikkei at more than 1-month highs as yen weakens on Trump relief

TOKYO: Japan's Nikkei share average probed more than one-month highs on Monday, cheered by Wall Street breaking records, a weaker yen and relief that talks between U.S. President Donald Trump and Japan's Prime Minister Shinzo Abe yielded no negative surprises.
The Nikkei was up 0.5 percent at 19,483.38 at the end of morning trade, after earlier rising as high as 19,519.44, its highest since Jan. 5
"The January high of 19,615.40 is in sight," said Yutaka Miura, a senior technical analyst at Mizuho Securities.
"It might not be topped today, but it would not be surprising if it was attained later this week," he said.
Wall Street's main stock indexes rose to fresh all-time closing highs on Friday as a spike in oil prices supported energy shares and investors renewed their optimism about Trump's economic agenda.
On Abe's U.S. visit, Trump abruptly set aside campaign pledges to force Tokyo to pay more for U.S. defense aid as well as his past complaints that Japan was artificially weakening its currency.
The dollar was up 0.7 percent at 113.95 yen after topping 114 earlier in the session, and pulling away from last week's 10-week lows.
"The mood here is clearly one of relief," said Stefan Worrall, director of Japan equity sales at Credit Suisse in Tokyo. "Going into the summit, the degree of anxious hand-wringing by Japanese policymakers was palpable," he said, as they fretted about whether currencies or the Bank of Japan's monetary easing steps would attract Trump's ire.