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Markets

Tokyo shares up 0.46pc in early trade

Published Updated

TOKYO: Tokyo shares opened higher on Friday as the  new financial year began under the shadow of an unresolved nuclear crisis at the stricken Fukushima Daiichi plant after Japan's biggest ever earthquake. The Nikkei 225 index was up 45.30 points, or 0.46 percent, at 9,800.40 in early trade as a weaker yen continued to support exporters, dealers said.

The Topix index added 4.23 points, or 0.49 percent, to 873.61. Analysts said trading would likely be rangebound ahead of March US jobs data due later Friday as markets continue to assess the impact of quake and  tsunami damage on corporations striving to restore crippled supply chains.

"Investors will watch carefully upcoming US jobs data and the impact of the ongoing nuclear crisis and rolling blackouts on Japanese corporate earnings," said Kazuhiro Takahashi, general manager at the investment strategy and research department of Daiwa Securities.  The yen was at 83.44 to the dollar from 83.20 in New York overnight as the greenback continued its recent ascent.

The Japanese unit was at 118.18 to the euro from 117.11

Copyright AFP (Agence France-Presse), 2011 

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