Tokyo stocks open higher after US gainsBreaking

January 05, 2023

Tokyo stocks opened higher Thursday following Wall Street gains as markets shrugged off messaging from the Federal Reserve reiterating its commitment to lowering inflation. The benchmark Nikkei 225 index rose 0.57 percent, or 147.01 points, to 25,863.87 at the open, while the broader Topix index added 0.17 percent, or 3.15 points, to 1,871.30. "The Japanese markets are expected to be higher following gains by US stocks and a lull in the appreciation of the yen," senior market analyst Toshiyuki Kanayama of Monex said in a commentary.

But Mizuho Securities noted that "a wait-and-see mood is expected to prevail after a round of buying" ahead of US jobs data. The Dow Jones Industrial Average closed 0.4 percent higher while the tech-rich Nasdaq Composite Index bounced 0.7 percent. The broad-based S&P 500 rose 0.8 percent.

The Dollar traded at 131.95 yen, down from 132.67 Yen in New York on Wednesday. In Tokyo trading, chip-linked shares were higher, with Advantest jumping 2.17 percent to 8,450 yen and Tokyo Electron surging 3.25 percent to 39,660 yen. Sony Group gained 2.85 percent to 10,455 yen while Nintendo firmed 1.38 percent to 5,563 yen. SoftBank Group added 0.49 percent to 5,668 yen.

Credit : Independent News Pakistan-INP