TOKYO, May 28 — Tokyo stocks opened higher today, extending rallies on Wall Street on optimism over steps to reopen major economies worldwide with the worst of the coronavirus pandemic seemingly over.
The benchmark Nikkei 225 index was up 0.98 per cent, or 210.63 points, at 21,629.86 in early trade, while the broader Topix index gained 0.76 per cent, or 11.84 points, to 1,561.31.
“Japanese shares are supported by US rallies” with traders bullish on the reopening of the US and Japan, said Toshiyuki Kanayama, senior market analyst at Monex.
Concerns over a simmering row between the US and China over Hong Kong’s special status are putting a brake on the euphoria, however, analysts said.
The dollar fetched ¥107.86 (RM4.36) in early Asian trade, against ¥107.77 in New York yesterday.
In Tokyo, airlines were among the winners, with Japan Airlines rising 1.28 per cent to ¥2,214.5 and ANA Holdings trading up 1.07 per cent at ¥2,699.5.
Honda rallied 2.29 per cent to ¥2,876 and Toyota gained 1.36 per cent to ¥6,832.
Nissan surged 7.96 per cent to ¥448.6 and Mitsubishi Motors climbed 6.05 per cent to ¥333 after their three-way alliance with Renault unveiled plans to deepen their cooperation.
On Wall Street, the Dow ended up 2.2 per cent at 25,548.27. — AFP
