TOKYO: Tokyo stocks opened higher on Tuesday after Wall Street ended mostly up and with investors awaiting Japan's corporate earnings season.
The benchmark Nikkei 225 index firmed 0.51 percent, or 147.38 points, to 29,172.84, while the broader Topix index added 0.34 percent, or 6.86 points, to 2,026.09.
The dollar stood at 114.28 yen, nearly flat from 114.29 yen late Monday in New York, where the S&P and Nasdaq indexes ended higher although the Dow slipped 0.1 percent.
"A softer-than-expected US industrial production print weighed on the Dow while energy concerns and China's growth outlook curb Europe's enthusiasm," said Rodrigo Catril of National Australia Bank.
But gains in technology shares boosted the Nasdaq to end above the 15,000 mark, encouraging investors, Okasan Online Securities said in a note.
Tokyo stocks close up more than 1.8%
Technical charts also indicate that investors are betting on more gains ahead, it added.
"News reports say Tokyo's local government is considering further easing or even lifting (anti-virus) rules, such as shorter business hours for restaurants and businesses. The Japanese economy is preparing to move towards full economic normalisation," Okasan said.
Market players are also eyeing the start of official campaigning Tuesday for Japan's general election on October 31, in which new Prime Minister Fumio Kishida's conservative bloc is expected to retain its majority.
"Investors' hopes are seen rising for economic policies going forward," Okasan said.
Among major shares, Sony Group rose 0.91 percent to 12,795 yen. SoftBank Group added 1.14 percent to 6,309 yen.
Uniqlo operator Fast Retailing surged 1.31 percent to 74,440 yen and electronics parts maker TDK rose 1.32 percent to 3,835 yen.
Nippon Steel fell 0.85 percent to 1,989 yen and Toyota dropped 0.71 percent to 2,025.5 yen, while Energy developer INPEX plunged 3.56 percent to 974 yen.
Comments
Comments are closed.