Tokyo stocks open higher, extending US rallies
TOKYO (AFP) – Tokyo stocks opened higher on Tuesday as investors took heart from rallies on Wall Street.
The benchmark Nikkei 225 index was up 0.85 percent or 190.73 points at 22,628.00 in early trade, while the broader Topix index advanced 0.60 percent or 9.48 points to 1,588.57.
“Japanese shares are supported by a rebound in US shares, and high-tech shares particularly are enjoying buy orders following a fresh record on the Nasdaq,” said Yoshihiro Ito, chief strategist of Okasan Online Securities.
The Nasdaq was lifted in part by announcements from Apple that it would build its own chips for its Mac computers.
The dollar fetched 106.90 yen in early Asian trade, unchanged from the level in New York on Monday.
In Tokyo, SoftBank Group was up 2.53 percent at 5,652 yen after it said it will start the process of selling shares in its US group firm T-Mobile.
Among other major shares, Toyota was up 1.41 percent at 6,914 yen, Uniqlo casual wear operator Fast Retailing was up 1.48 percent at 63,640 yen, and chip-making equipment manufacturer Tokyo Electron was up 1.83 percent at 25,545 yen.
On Wall Street, the Dow ended up 0.6 percent at 26,024.96, while the tech-rich Nasdaq hit a fresh record to close up 1.1 percent at 10,056.91.