TOKYO: Tokyo stocks opened higher on Tuesday, extending rallies on Wall Street, where investors cheered the passage of a US infrastructure overhaul.
The benchmark Nikkei 225 index was up 0.16 percent, or 45.77 points, at 29,552.82 in early trade, while the broader Topix index was up 0.23 percent, or 4.76 points, at 2,039.98.
"Japanese shares are rebounding following rallies in the US market on the passage of the infrastructure bill," senior strategist Yoshihiro Ito of Okasan Online Securities said.
The gradual normalisation of business activity following the Japanese government's lifting of emergency virus measures was also supporting the market, he added.
The dollar fetched 113.20 yen in early Asian trade, against 113.22 yen in New York late Monday.
SoftBank Group skyrocketed 11.18 percent to 6,850 yen after it announced a share buyback worth one trillion yen ($8.8 billion) on Monday.
The investment giant also said it suffered its first quarterly net loss in 18 months as a China tech crackdown and other investment losses hit its Vision Fund portfolio.
Toshiba was up 2.27 percent at 5,088 yen after a report said it plans to split into three companies as early as 2023, aiming to make the performance and growth strategy of each sector clearer.
Among other major shares, Sony was up 0.25 percent at 14,020 yen, Panasonic added 0.33 percent to 1,373 yen and Toyota advanced 0.57 percent to 2,039.5 yen.
Nissan was up 0.51 percent at 594.2 yen ahead of its earnings report, due after the market close.
Comments
Comments are closed.