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Markets

Tokyo stocks open higher on gains in US high tech shares

  • The dollar fetched 109.83 yen in early Asian trade, against 109.90 yen in New York late Wednesday
Published July 29, 2021
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TOKYO: Tokyo stocks opened higher on Thursday as investors took heart from gains in US high-tech shares after the Fed decided against any major changes to its monetary policy.

The benchmark Nikkei 225 index was up 0.63 percent or 172.60 points at 27,754.26 in early trade, while the broader Topix index gained 0.51 percent or 9.82 points to 1,929.47.

"Rallies in US high-tech shares are providing a positive push for the Tokyo market but an expansion in virus cases in Japan could offset the positive mood, leading to lack of a clear direction in trade," Mizuho Securities said in a note.

Hong Kong stocks up at lunch

The dollar fetched 109.83 yen in early Asian trade, against 109.90 yen in New York late Wednesday.

In Tokyo, Nissan climbed 8.75 percent to 645.7 yen after the carmaker upgraded its annual outlook projecting a return to the black.

Fujitsu was up 0.58 percent at 19,925 yen and Panasonic was up 1.17 percent at 1,241.5 yen ahead of their earnings reports later in the day.

On Wall Street, US stocks ended mixed with the Dow closing down 0.4 percent at 34,930.93, the broad-based S&P ending flat and the tech-rich Nasdaq gaining 0.7 percent.

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