TOKYO: Tokyo stocks opened higher on Friday after a mixed close on Wall Street, with investors worrying about growth given stubborn inflation and rising interest rates.
The benchmark Nikkei 225 index was up 0.67 percent, or 173.55 points, at 25,922.27 in early trade, while the broader Topix index edged up 0.40 percent, or 7.24 points, to 1,836.42.
Tokyo trade “will be without a sense of direction” given that inflation and US interest rate hike worries “continue to smoulder,” though falls in US Dow and S&P indices narrowed toward the US market close, Okasan Online Securities said in a note.
Tokyo stocks open lower after mixed US close
The dollar fetched 128.39 yen in early Asian trade, against 128.36 yen in New York late Thursday.
In Tokyo, SoftBank Group rallied 3.47 percent to 4,547 yen after it reported a record net loss while its chief executive Masayoshi Son said his plans for microchip powerhouse Arm’s IPO are intact, while now is time to actively buy back SoftBank shares.
Nissan dropped 4.87 percent to 480.4 yen after its full-year profit forecast was lower than market expectations.
Chip-making equipment manufacturer Tokyo Electron was up 3.65 percent at 55,970 yen, after its full-year profit forecast beat market expectations.
Toshiba was up 1.45 percent at 5,445 yen ahead of its full-year earnings report due later in the day, and after a report that more than 10 investment funds at home and abroad have proposed new strategies to the company management after it dropped plans to split into two.
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