TOKYO: Tokyo stocks opened higher Monday as investors weighed worries over a tightening of monetary policy by the US Fed and awaited Chinese economic data due later in the day.
The benchmark Nikkei 225 index was up 0.69 percent or 195.38 points at 28,319.66 in early trade, while the broader Topix index gained 0.42 percent or 8.38 points to 1,986.04.
Global markets are continuing to assess the Federal Reserve's expected actions after several central bank officials said they expect multiple interest rate hikes in 2022.
Tokyo stocks close lower on Fed rate hike fears
Speeches made by Fed officials last week ahead of the bank's January 25-26 meeting makes rate rises "as close to a slam dunk for markets as it's possible to imagine," with the prospect already being priced into markets, said strategist Ray Attrill of National Australia Bank.
"Japanese shares are seen supported by gains in the US Nasdaq," senior market analyst Toshiyuki Kanayama of Monex said. The tech-rich Nasdaq index closed up 0.6 percent on Friday.
Investors are also closely watching Chinese economic data including October-December GDP, due during Tokyo trading hours, he added.
Chip-testing equipment maker Advantest was up 1.96 percent at 10,930 yen and chip-making equipment manufacturer Tokyo Electron was up 1.04 percent at 65,910 yen.
Electronics giant Sharp was up 0.68 percent at 1,323 yen. The dollar fetched 114.38 yen in early Asian trade, against 114.25 yen on Friday.
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