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Markets

Tokyo stocks edge up in early trade

  • The dollar fetched 108.75 yen in early Asian trade, against 108.76 yen in New York late Tuesday.
Published May 26, 2021

TOKYO: Tokyo stocks opened lower on Wednesday but soon rebounded to positive territory following a jittery session on Wall Street with eyes on US economic data.

The benchmark Nikkei 225 index was up 0.30 percent or 86.98 points at 28,640.96 about an hour after the opening bell, while the broader Topix index was up 0.11 percent or 2.06 points at 1,921.58.

"Japanese shares are weighed down" by falls on Wall Street with one set of recent data showing signs of inflation, "although market players are increasingly resilient", Okasan Online Securities chief strategist Yoshihiro Ito said in a note.

Investors are also awaiting data including the US ISM manufacturing due next week, analysts said.

The dollar fetched 108.75 yen in early Asian trade, against 108.76 yen in New York late Tuesday.

In Tokyo, Sony was down 0.23 percent at 10,730 yen after it announced a two trillion yen ($18 billion) strategic investment over three years.

Nippon Steel was up 0.52 percent at 2,126.5 yen and Toyota was up 0.89 percent at 8,956 yen.

On Wall Street, the Dow ended down 0.2 percent at 34,312.46.

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