Tokyo shares start higher on US advances

Tokyo shares start higher on US advances

The Tokyo stock market opened higher on Thursday, mirroring Wall Street, as markets shrugged over Federal Reserve communications emphasizing its commitment to decreasing inflation.

The Nikkei 225 index gained 0.57 percent, or 147.01 points, to open at 25,863.87, while the Topix index gained 0.17 percent, or 3.15 points, to 1,873.30.

Monex’s senior market analyst Toshiyuki Kanayama stated in a commentary, “The Japanese markets are projected to rise after advances in US stocks and a slowdown in the appreciation of the yen.”

In contrast, Mizuho Securities predicted that “a wait-and-see attitude will prevail after a round of purchasing” ahead of US employment statistics.

The Dow Jones Industrial Average ended the day up 0.4%, while the tech-heavy Nasdaq Composite Index rose 0.7%.

The broad-based S&P 500 index increased by 0.8%.

The dollar was valued at 131.95 yen, down from 132.67 yen on Wednesday in New York.

In Tokyo trade, chip-related stocks advanced, with Advantest increasing 2.17 percent to 8,450 yen and Tokyo Electron increasing 3.25 percent to 39,660 yen.

Sony Group increased 2.85% to 10,455 yen, while Nintendo rose 1.38 % to 5,564 yen.

SoftBank Group’s stock price increased 0.49 percent to 5,668 yen

 

»Tokyo shares start higher on US advances«

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