TOKYO – Tokyo stocks opened higher today, tracking rises on Wall Street where tech shares surged while US yields retreated.
The benchmark Nikkei 225 index added 0.51%, or 151.79 points, at 29,860.77 while the broader Topix index rose 0.44%, or 8.64 points, to 1,960.50.
The dollar stood at 109.34 yen, compared with 109.26 yen yesterday in New York.
The strong open came after global rallies, with the tech-rich Nasdaq index jumping 1.0%. The S&P 500 rose 0.4% to finish at a second straight all-time high. The Dow also added 0.2%.
“In the United States overnight, the movement of long-term yields calmed and major IT shares surged including GAFA,” Okasan Online Securities said, referring to four top technology firms: Google-parent Alphabet, Amazon, Facebook and Apple.
“In Tokyo too, buying is expected for semiconductors and related shares,” Okasan said.
Investors in Tokyo are also keeping a close eye on the government’s plan for new coronavirus measures in Tokyo, Kyoto and Okinawa, with Covid-19 cases beginning to surge ahead of a holiday travel season from late April to early May.
The measures will focus largely on asking restaurants to close at 8pm and urging citizens to refrain from making non-essential outings.
They come just three weeks after Japan lifted a state of emergency for the greater Tokyo region, and as the capital prepares to host the postponed Olympics this summer.
Among Tokyo shares, Toyota added 0.91% to 8,495 yen, and Sony Group soared 2.77% to 12,230 yen.
Industrial robot maker Fanuc jumped 2.47% to 28,680 while chipmaker Murata Manufacturing rose 0.80% to 9,244 yen.
Nintendo was up 0.40% to 65,020 yen.
Uniqlo operator Fast Retailing opened higher but soon came under pressure and fell 1.87% to 89,280 yen.
The firm reported a rise in profits yesterday thanks to a strong performance in China and Japan, but declined to comment on controversy over clothing retailers sourcing cotton from the Chinese region of Xinjiang. – AFP, April 9, 2021
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