BUSINESS Tokyo shares open higher on Wall Street gains


Tokyo shares open higher on Wall Street gains


09:41, January 12, 2022

Tokyo shares opened higher Wednesday after remarks from the US Fed chair fell within expectations, relieving investors who then lifted Wall Street.

The benchmark Nikkei index rose 0.80 percent, or 224.92 points, to 28,447.40, while the broader Topix index added 0.72 percent, or 14.33 points, to 2,001.15.

The dollar stood at 115.31 yen, nearly flat from 115.28 yen seen Tuesday in New York.

Investors had been selling down Tokyo shares in recent sessions but they regained composure after Federal Reserve Chair Jerome Powell pledged to fight inflation but did not project the hawkish tones that some had feared.

"It came within expectations, and US investors reacted in relief," Okasan Online Securities said in a note.

Gains on the Nasdaq as well as solid semiconductor share performance in the United States should boost chip-related shares in Japan as well, the brokerage said.

Powell's pledge to focus on achieving full employment also brightened investor sentiment, Okasan added.

Among major shares, Sony Group rose 1.39 percent to 14,605 yen. SoftBank Group jumped 3.08 percent to 5,525 yen.

Toyota trimmed earlier gains and was up 0.09 percent at 2,324 yen.

Semiconductor maker Murata Manufacturing added 2.74 percent to 9,275 yen. Advantest, producer of chip testing kits, surged 2.58 percent to 10,740 yen.

Industrial robot maker Fanuc added 1.24 percent to 24,480 yen.

Fast Retailing, which operates the Uniqlo brand, rose 1.32 percent to 60,040 yen.

Construction equipment maker Komatsu lost 0.31 percent to 2,931 yen.

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