TOKYO, March 29 ― Tokyo stocks opened higher today, extending US gains on hopes over peace talks between Russia and Ukraine, while investors also bought shares to gain rights to receive dividends.
The benchmark Nikkei 225 index rose 0.72 per cent, or 202.40 points, to 28,146.29 in early trade, while the broader Topix index was up 0.45 per cent, or 8.83 points, at 1,982.20.
“The Japanese market is receiving support from rallies in US shares and a cheaper yen”, with Wall Street investors encouraged to buy on hopes talks between Ukraine and Russia will make progress towards a ceasefire, senior market analyst Toshiyuki Kanayama of Monex said in a note.
Tokyo investors were also seeking rights to receive dividends at the end of the current financial year before a Tuesday deadline, he added.
The dollar traded at ¥123.80 (RM4.20) in early Asian trade, against ¥123.83 in New York late yesterday.
In Tokyo, electronics were among winners, with Sony Group rallying 1.45 per cent to ¥12,905 and Panasonic trading up 1.92 per cent at ¥1,221.
Mizuho Financial Group was down 0.24 per cent at ¥1,651.5 after it said it would record reserves for possible losses related to Russia, adding that would not impact its net profit forecast.
Shiseido dropped 1.33 per cent to ¥6,093 after a report it temporarily shut a factory in Shanghai given the outbreak of coronavirus cases in the Chinese city and lockdown measures.
Japan's unemployment rate in February stood at 2.7 per cent, a modest improvement from 2.8 per cent in January, according to the internal affairs ministry's data released before the opening bell. The data did not prompt any strong market reaction. ― AFP
