Tokyo stocks open higher

TOKYO: Tokyo's benchmark Nikkei index opened higher Friday, tracking rises in US shares as investors cheered President Joe Biden's pledge to boost vaccination efforts.

The Nikkei 225 added 1.18 percent, or 338.40 points, to 29,068.28 in early trade, while the broader Topix index rose 1.01 percent, or 19.81 points, to 1,975.36.

The Tokyo market kept up momentum seen in New York, where investors welcomed Biden's pledge to administer 200 million doses of Covid-19 vaccine in his first 100 days in office -- double his earlier target -- fuelling hope that the economy may soon regain a sense of normalcy.

The market has also perked up after seeing the falling number of first-time claims for US unemployment benefits, Okasan Online Securities said.

"Just as was the case in the US, value stocks, which tend to react sensitively to signs of economic recoveries, will likely attract attention," Okasan said.

The dollar bought 109.25 yen in early trade in Tokyo, compared with 109.23 seen in New York overnight.

Among major shares, SoftBank Group surged 2.15 percent to 9,270 yen. Toyota rose 2.00 percent to 8,320 yen, while Sony added 0.98 percent to 11,325 yen.

Mitsubishi UFJ Financial Group added 1.78 percent to 630.5 yen. Medical equipment maker Olympus also gained 2.09 percent to 2,319 yen.

But Uniqlo operator Fast Retailing dropped 0.64 percent to 84,360 yen.