TOKYO: Tokyo stocks opened higher on Wednesday after Wall Street shares rallied for a second straight session on receding worries over the latest Covid-19 variant.
The benchmark Nikkei 225 index was up 1.20 percent, or 342.13 points, at 28,797.73 in early trade, while the broader Topix index gained 0.81 percent, or 16.02 points, to 2,005.87.
Japanese shares are starting with gains "as investors were encouraged by receding concerns over the Omicron strain of the coronavirus and rallies in US high-tech stocks," Mizuho Securities said in a note.
Wall Street stocks were up for a second straight session as investors cheered early indications that the latest Covid-19 variant may be less severe than earlier versions, with the tech-rich Nasdaq enjoying a three-percent jump.
The dollar fetched 113.51 yen against 113.56 yen in New York late Tuesday.
Among major shares in Tokyo, Sony Group was up 1.93 percent at 14,255 yen and Uniqlo casual wear operator Fast Retailing was 0.83 percent higher at 68,420 yen, but IT and investment giant SoftBank Group was off 1.20 percent at 5,442 yen and Toyota was down 1.47 percent at 2,074 yen.
Japan's economy shrank 0.9 percent in the July-September quarter, a slightly larger contraction than a preliminary estimate of 0.8 percent, latest data by the Cabinet Office showed 10 minutes before the opening bell.
The data did not prompt any strong reaction from the market.
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