Tokyo stocks open higher extending US rallies
- The dollar fetched 110.53 yen in early Asian trade, unchanged from levels in New York late Tuesday.
TOKYO: Tokyo stocks opened higher on Wednesday as investors took heart from rallies on Wall Street with investors focused on virus cases and key US data this week.
The benchmark Nikkei 225 index was up 0.30 percent or 87.26 points at 28,899.87 in early trade, while the broader Topix index increased 0.37 percent or 7.27 points to 1,956.75.
"Japanese shares are seen starting with gains following rallies in US stocks," senior analyst Toshiyuki Kanayama of Monex said in a commentary.
But Mizuho Securities added in a note that trade in Tokyo "will remain in a narrow range as a wait-and-see attitude is likely to grow on worries over new coronavirus cases and ahead of US June payrolls data due this weekend."
The dollar fetched 110.53 yen in early Asian trade, unchanged from levels in New York late Tuesday.
In Tokyo, Chugai Pharmaceutical was up 2.74 percent at 4,418 yen after a report it is asking the health ministry to approve two Covid-10 treatment drugs.
Among automakers, Honda was up 1.41 percent at 3,604 yen and Nissan was up 0.59 percent at 558.1 yen.
Sony was down 1.86 percent at 10,795 yen, shipping firm Mitsui O.S.K. Lines was off 1.49 percent at 5,280 yen, and Uniqlo casual wear operator Fast Retailing was off 0.79 percent at 83,020 yen.
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