TOKYO, Oct 26 ― Tokyo stocks opened higher today, boosted by gains in US shares that hit record highs as Tesla topped US$1 trillion (RM4.15 trillion) in value.
The benchmark Nikkei 225 index gained 1.09 per cent, or 312.84 points, to 28,913.25 in early trade, while the broader Topix index rose 0.77 per cent, or 15.27 points, to 2,010.69.
“The Japanese market is likely to grow steadily today. The Dow and S&P hit a record high and tech shares gained backed by Tesla... that's likely to support shares in Japan,” Okasan Online Securities said.
The brokerage said reports that Japan's ruling Liberal Democratic Party is likely to gain a majority in the upcoming general election would also help the market.
Yesterday, the Dow Jones Industrial Average ended up 0.2 per cent at 35,741.15, its second straight record, and the broad-based S&P 500 climbed 0.5 per cent to 4,566.48, its second record in three sessions.
The Nasdaq Composite Index jumped 0.9 per cent to 15,226.71, with Tesla becoming the latest tech giant to push above US$1 trillion in market capitalisation.
In Tokyo trading, tech-related shares rebounded from losses a day before, with Tokyo Electron jumping 2.15 per cent to ¥51,210 and Fanuc rising 1.52 per cent to ¥24,625.
Uniqlo operator Fast Retailing surged 3.31 per cent to ¥72,320 while SoftBank Group gained 3.20 per cent to ¥6,592.
Toyota climbed 1.48 per cent to ¥1,975.5 while Honda advanced 1.41 per cent to ¥3,443. Nissan rose 2.84 per cent to 595.8 yen.
The dollar changed hands at ¥113.81 in early Asian trade, against ¥113.71 in New York yesterday. ― AFP
