TOKYO, Nov 5 ― Tokyo stocks opened higher today after Wall Street shares surged on optimism over US-China trade talks.

The benchmark Nikkei 225 index was up 1.12 per cent or 256.82 points at 23,107.59 in early trade, while the broader Topix index was up 0.94 per cent or 15.71 points at 1,682.21.

The Japanese market is seen gaining, backed by “rallies in all three main indices in the US market,” Toshiyuki Kanayama, senior market analyst at Monex, said in a note.

Wall Street shares surged to fresh records, with analysts citing remarks from US Commerce Secretary Wilbur Ross that “phase one” of the trade agreement between Beijing and Washington was on track, and hinting that the US may not impose tariffs on car imports from Europe and Japan.

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The dollar fetched at ¥108.74 (RM4.15) in early Asian trade, against ¥108.58 in New York yesterday.

Investors were also watching Japanese corporate earnings reports this week, including SoftBank Corp due after the market close today, its parent SoftBank Group due tomorrow, and Toyota due on Thursday, analysts said.

Among major shares in Tokyo, automakers were higher, with Honda gaining 2.31 per cent to ¥3,023 and Toyota trading up 1.12 per cent at 7,636. Mazda surged 5.03 per cent after it reported better-than-expected second quarter operating profits.

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SoftBank Group was up 1.83 per cent at ¥4,269 while its mobile unit SoftBank Corp was down 0.19 per cent at ¥1,498.

On Wall Street, the Dow ended up 0.4 per cent at 27,462.11. ― AFP