TOKYO: Tokyo stocks opened higher on Friday despite falls on Wall Street as bargain-hunting purchases offset some risk-off sentiment among investors.
The benchmark Nikkei 225 index was up 0.14 percent, or 36.47 points, at 26,439.31 in early trade, while the broader Topix index was up 0.03 percent, or 0.49 points, at 1,860.57.
“Investors will stay cautious today on uncertainty over the US economy… but shares are likely to be bought because of their affordability,” Mizuho Securities said in a note.
The Dow Jones Industrial Average ended down 0.8 percent, while the broad-based S&P 500 dropped 0.6 percent. The tech-rich Nasdaq Composite Index declined 0.3 percent.
In Tokyo trading, shipping companies were higher, with Nippon Yusen Kaisha soaring 3.21 percent to 9,940 yen and Mitsui OSK Lines jumping 2.57 percent to 3,380 yen.
Tokyo shares open lower tracking US losses
Uniqlo operator Fast Retailing climbed 0.63 percent to 58,530 yen while SoftBank Group rose 1.72 percent to 5,142 yen.
Tokyo Gas dropped 2.63 percent to 2,587 yen after the Nikkei business daily reported the firm will raise gas prices for the 11th straight month. Osaka Gas tumbled 2.21 percent to 2,433 yen.
The dollar fetched 127.96 yen, against 127.80 yen in New York on Thursday.
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