TOKYO – Tokyo stocks opened higher today, tracking Wall Street gains as investors digested Japan’s latest gross domestic product data showing growth slowed in the fourth quarter.
The benchmark Nikkei 225 index rose 0.82%, or 242.60 points, to 29,762.67 in early trade, briefly surpassing the 30,000 level at one point – the first time it has done so in 30 years.
The broader Topix index advanced 0.66%, or 12.73 points, to 1,946.61.
“This week, Japanese stocks are likely to continue their upward trend,” Okasan Online Securities said.
“There was a chilling moment after the powerful quake in the Tohoku region this weekend, but the impact on the market seems to be limited.”
It added that traders are also eying the coronavirus vaccine roll-out expected to start as early as Wednesday in Japan for healthcare professionals.
“The Nikkei index is climbing, as the central banks in Japan, the United States and Europe keep their massive monetary easing policies because of the pandemic,” said Masayuki Kubota, who is the chief strategist at Rakuten Securities.
Wall Street stocks finished a solid week at all-time highs on Friday, with traders anticipating more US fiscal stimulus. The S&P 500 gained 0.5% to finish at 3,934.83.
The Dow Jones Industrial Average edged up 0.1% to 31,458.40, while the tech-rich Nasdaq also added 0.5% to 14,095.47.
In Tokyo trading, SoftBank Group rose 1.83% to 9,977 yen, while Uniqlo casual wear operator Fast Retailing grew 1.85% to 97,320 yen.
Sony climbed 1.22% to 11,990 yen. Toyota dipped 0.03% to 8,410 yen, while Honda was up 1.32% to 3,059 yen.
The dollar fetched 105.10 yen in early Asian trade, against 104.91 yen in New York late Friday. – AFP, February 15, 2021
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