BUSINESS Tokyo stocks open higher after Wall St rallies

BUSINESS

Tokyo stocks open higher after Wall St rallies

AFP

08:18, October 13, 2020

File photo

Tokyo stocks opened higher on Tuesday, extending rallies on Wall Street, where high-tech shares led the gains.

The benchmark Nikkei 225 index was up 0.34 percent, or 81.01 points, at 23,639.70 in early trade, while the broader Topix index edged up 0.39 percent,, or 6.49 points, to 1,649.84.

"Japanese shares are testing a rebound, helped by rallies in US shares, but the dollar-yen rate of 105.00-105.50 yen is capping the upside," Okasan Online Securities chief strategist Yoshihiro Ito said in a commentary.

Investors were keenly awaiting corporate earnings results due from later this month, analysts said.

The dollar fetched 105.37 yen in early Asian trade, against 105.32 yen in New York late Monday.

Among major shares in Tokyo, Sony was up 1.53 percent at 7,887 yen, Canon was up 2.16 percent at 1,706 yen, carmaker Mazda rose 2.15 percent to 617 yen and industrial robot maker Fanuc rallied 3.51 percent to 20,780 yen.

On Wall Street, the Dow ended up 0.9 percent at 28,837.52 while the tech-rich Nasdaq rallied 2.6 percent and the broader S&P 500 gained 1.6 percent.

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