TOKYO, Nov 4 ― Tokyo stocks opened higher today, extending US gains, with investors shifting their focus to earnings due later in the day, including from auto giant Toyota.
The benchmark Nikkei 225 index was up 1.04 per cent, or 305.73 points, at 29,826.63 in early trade, while the broader Topix index rose 0.71 per cent, or 14.39 points, to 2,046.06.
“Japanese shares are starting with gains following days of rallies in all three US indices,” senior market analyst Toshiyuki Kanayama of Monex said in a note.
“Toyota's earnings, which are due during trading hours... are the focus of attention.”
The dollar fetched ¥114.09 (RM4.15) in early Asian trade, against ¥114.02 in New York late yesterday.
Toyota was barely moving in early trade, down 0.05 per cent at ¥2,047 ahead of its earnings release.
Its smaller rivals were modestly higher, with Honda trading up 0.17 per cent at ¥3,459 and Nissan gaining 0.59 per cent to ¥599.6.
Mitsubishi Motors was up 0.82 per cent at ¥370 ahead of its earnings report due after the market close.
Nintendo was down 2.10 per cent at ¥48,920 after a report said the game giant's Switch console production in the year to March will likely be down by 20 per cent from its initial target.
JAL was up 0.68 per cent at ¥2,522 after the airline forecast a net loss of ¥146 billion ($1.28 billion) for the current financial year, citing Covid-19 travel restrictions.
Its rival ANA Holdings was up 2.41 per cent at ¥2,766.5.
Wall Street stocks finished at fresh records following a heavily telegraphed Federal Reserve decision to scale back its stimulus programme.
For the fourth straight day, all three major indices ended at all-time highs, with the Dow Jones Industrial Average up 0.3 per cent to 36,157.58. ― AFP
