TOKYO – Tokyo stocks opened higher today supported by hopes for a post-Brexit deal and rallies in US key indices, with trade subdued ahead of Christmas holidays in overseas markets.
The benchmark Nikkei 225 index edged up 0.53%, or 139.77 points, to 26,664.56 in early trade, while the broader Topix index was up 0.57%, or 10.13 points, at 1,775.34.
"Japanese shares are seen led by purchases following a rebound in the Dow in New York, but active buying moves will be limited ahead of year-end holidays," Mizuho Securities said in a commentary.
The dollar fetched 103.57 yen in early Asian trade, against 103.53 yen in New York.
The British pound remained high, changing hands at US$1.3515, flat from levels in New York, as the European Commission warned early today that efforts to finalise a post-Brexit trade pact would last through the night.
Wall Street stocks finished mostly higher, shrugging off a batch of largely weak economic data and comments from US President Donald Trump that risked derailing a giant economic relief package.
The Dow ended up 0.4% to 30,129.83 and the broad-based S&P 500 advanced 0.1%, while the tech-rich Nasdaq dropped 0.3%.
In Tokyo, engineering firm Kawasaki Heavy rallied 4.9% to 2,162 yen after a brokerage firm revised up its evaluation of the company's shares.
Some other exporters were also higher, with Panasonic trading up 0.86% at 1,169 yen, Hitachi up 1.02% at 4,047 yen and Canon up 1.12% at 2,029 yen. – AFP, December 24, 2020
