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Markets

Tokyo stocks open higher

  • Toyota, which announced a capital tie-up with Isuzu for autonomous trucks on Wednesday, rose 0.82 percent to 8,187 yen.
25 Mar 2021

TOKYO: Tokyo stocks opened higher on Thursday despite the uncertainty fuelled by falls on Wall Street and North Korea's launch of two projectiles.

The Nikkei 225 index edged up 0.18 percent, or 51.81 points, to 28,457.33 at the open, while the broader Topix index rose 0.65 percent, or 12.45 points, to 1,941.03.

"There are uncertainties" after the main US indexes closed lower and the North Korean launches were observed, said Rikiya Takebe, senior strategist at Okasan Online Securities.

"The Olympic torch relay will start. There are hopes that a festive mood will influence the market."

Weakness in technology shares weighed down Wall Street on Wednesday, with the tech-rich Nasdaq ending down 2.0 percent.

The broad-based S&P 500 dropped 0.6 percent, while the Dow Jones Industrial Average finished finished marginally negative.

The Tokyo Olympics torch relay kicked off Thursday, a year late and without spectators at the launch, heralding a major step towards the start of the coronavirus-delayed Games on July 23.

In Tokyo trading, key chip manufacturer Renesas gained 0.86 percent to 1,166 yen a day after the government said they were lining up to offer support following a factory fire that could worsen a global semiconductor shortage.

Toyota, which announced a capital tie-up with Isuzu for autonomous trucks on Wednesday, rose 0.82 percent to 8,187 yen.

Nissan grew 1.10 percent to 587.5 yen while Honda jumped 1.44 percent to 3,293 yen.

Uniqlo casual wear operator Fast Retailing climbed 0.45 percent to 84,120 yen while SoftBank Group lost 0.73 percent to 9,271 yen.

The dollar traded at 108.80 yen in early Asian trade against 108.71 yen in New York late Wednesday.

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