TOKYO – Tokyo's key Nikkei index opened marginally higher on Monday in cautious trade after a mixed Wall Street close, with eyes on the fate of the US stimulus and the presidential election.
The Nikkei 225 was up 0.13%, or 30.74 points, at 23,547.33 in early trade, while the broader Topix index was up just 0.02%, or 0.25 points, at 1,625.57 after hovering between negative and positive territory at the open.
"Investors in Japanese shares are forced to remain cautious ahead of earnings of companies such as Sony... while they closely watch news headlines on the additional US stimulus and the presidential election," chief strategist Yoshihiro Ito of Okasan Online Securities said in a commentary.
The dollar fetched 104.71 yen in early Asian trade, against 104.69 yen in New York late Friday.
In Tokyo, Sony was up 1.46% at 7,934 yen ahead of its earnings later this week, and Panasonic was up 2.10% at 913.1 yen.
ANA Holdings was down 1.00% at 2,367.5 yen after reports said Japan's largest airline will ask Toyota to temporarily employ some of its workers as part of its restructuring plans.
Other reports said it has signed a memorandum of understanding to purchase sustainable aviation fuel from the Singapore refinery of Finland-based Neste.
Its rival Japan Airlines was up 0.52% at 2,046.5 yen.
On Wall Street, the Dow ended down 0.1% at 28,335.57, while the broader S&P closed up 0.3% and tech-rich Nasdaq was up 0.4%. – AFP, October 26, 2020
