TOKYO, Nov 9 — Tokyo stocks opened higher today with investors encouraged to buy after rallies on Wall Street as the US midterm elections dominate attention.
The benchmark Nikkei 225 index was up 0.15 per cent, or 41.56 points, at 27,913.67, while the broader Topix index added 0.05 per cent, or 1.00 points, to 1,958.56.
The dollar fetched ¥145.38 (RM4.72) in early Asian trade, against ¥145.58 in New York late yesterday.
“Japanese shares are seen starting with gains,” senior market analyst Toshiyuki Kanayama of Monex said in a note.
But trade will remain cautious as “investors want to see the result of the US midterm elections” and are also waiting on US inflation data due out tomorrow for a pointer on the path for interest rates ahead, Mizuho Securities said in a note.
Polls opened yesterday in crucial US elections that will shape the political fortunes of President Joe Biden.
Biden’s Democrats are facing a gargantuan struggle to hang onto control of Congress.
Polls show Republicans are likely to win at least one house of the legislature — and some see the prospect of split control in Washington as a scenario that lessens the risk of policy uncertainty.
In Tokyo, Nintendo dived 5.43 per cent to ¥5,887 after it lifted its annual net profit forecast but said it expected to sell two million fewer units of its Switch console this business year than previously forecast.
Nissan was down 0.87 per cent at ¥491 ahead of its earnings report due later in the day.
SoftBank Group was up 0.78 per cent at ¥6,983 and chip-testing equipment manufacturer Advantest was up 1.75 per cent at ¥8,140, but Panasonic was down 0.77 per cent at ¥1,219.5. — AFP
