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Markets

Tokyo stocks open slightly higher ahead of US data

  • He said traders were also watching global rates.
Published June 3, 2021
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TOKYO: Tokyo stocks opened marginally higher on Thursday after subdued trade on Wall Street, as investors await key US jobs data due this week.

The benchmark Nikkei 225 index was up 0.12 percent or 33.43 points at 28,979.57 in early trade, while the broader Topix index edged up 0.36 percent or 7.08 points to 1,949.41.

"Japanese shares are seen subdued after a small rally in US shares," said Toshiyuki Kanayama, senior market analyst at Monex.

"Markets were again very quiet overnight as is typical in a non-farm payroll week," said Tapas Strickland, senior analyst at National Australia Bank, referring to US jobs data due on Friday.

He said traders were also watching global rates.

Higher interest rates are usually negative for emerging high-tech companies which need lots of investment capital.

The dollar fetched 109.60 yen in early Asian trade, against 109.55 yen in New York late Wednesday.

In Tokyo, Sony was up 0.97 percent at 10,910 yen and Toyota was up 2.83 percent at 9,900 yen but Uniqlo casual wear operator Fast Retailing was down 3.80 percent at 85,400 yen.

On Wall Street, the Dow ended up 0.1 percent at 34,600.38.

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