TOKYO, April 3 ― Tokyo stocks opened higher today after four days of losses, supported by a cheaper yen and Wall Street gains on a spike in oil prices.

The benchmark Nikkei index rose 1.22 per cent or 218.05 points to 18,036.77 in early trade while the broader Topix index gained 1.19 per cent or 15.76 points to 1,345.63.

The Tokyo market is likely to benefit from gains in US stocks and a breather in the yen's recent rise, said Okasan Online Securities.

But after the morning rally, there is a chance equities will run out of steam, predicted Yoshihiro Ito, chief strategist at the brokerage.

"Moves to build up buying at the weekend will be limited when the Tokyo metropolitan area could face a lockdown” to contain the coronavirus spread, he said in a note.

"And, prospects remain dark for the global economy. There are growing risks that China will be isolated as anti-globalisation gains ground,” he said, adding Japanese companies heavily depended on China.

Wall Street ended with mild gains yesterday as oil prices spiked on hopes of US help to end a Saudi-Russia price war that contributed to the slump.

The dollar firmed to ¥108.10 (RM4.37) early today from ¥107.81 yen in New York yesterday afternoon.

Energy companies shot up in Tokyo trade as well, with oil explorer Inpex jumping 5.58 per cent to ¥650.4.

SoftBank Group rose 1.35 per cent to ¥3,819 after the global tech investor announced it had terminated a deal to buy up to US$3 billion WeWork shares as part of a restructuring of the office-sharing startup. ― AFP