TOKYO, March 10 ― Tokyo stocks opened higher today supported by rallies on Wall Street.
The benchmark Nikkei 225 index was up 0.33 per cent or 97.13 points at 29,125.07 in early trade, while the broader Topix index gained 0.05 per cent or 1.04 points to 1,918.72.
“Japanese shares are rising after gains in US shares with a lull in the rise in US long-term yields,” senior analyst Toshiyuki Kanayama of Monex said in a commentary.
On Wall Street, the tech-rich Nasdaq shook off recent weakness and finished up 3.7 per cent in its best session since November.
Higher borrowing costs along with high interest rates have had adverse effects especially on high-tech firms.
The Dow ended up 0.1 per cent at 31,832.74.
The dollar fetched ¥108.59 (RM4.11) in early Asian trade, against ¥108.50 in New York late yesterday.
In Tokyo, some electronics and IT firms were higher, with Sony trading up 1.53 per cent at ¥10,975 and Fujitsu up 2.86 per cent at ¥15,640.
Telecoms were also higher, with KDDI rallying 2.31 per cent to 3,451 yen and NTT gaining 0.91 per cent to ¥2,813.5.
Automakers were lower, with Toyota slipping 0.49 per cent to ¥8,149, Honda trading down 1.87 per cent at ¥3,205, and Nissan off 2.37 per cent at ¥600.2. ― AFP
