Tokyo stocks open higher as sentiment improves

Tokyo - Tokyo stocks opened higher on Tuesday, as investor sentiment improved following rallies on Wall Street with expectations growing for a year-end shopping spree.

The benchmark Nikkei 225 index was up 0.69% or 149.62 points at 21 961.62 in early trade, while the broader Topix index was up 0.68% or 11.13 points at 1 643.33.

"US stocks rallied with a sound beginning of the year-end shopping spree... Japanese shares are seen tracking the rally," Toshiyuki Kanayama, senior market analyst at Monex, said in a commentary.

Markets were also in bullish mood after oil prices stabilised, Britain sealed a Brexit deal with the EU and Italy signalled a more conciliatory stance in a budget fight with Brussels, analysts said.

The dollar fetched ¥113.52 in early Asian trade, against ¥113.62 in New York and ¥113.21 in Tokyo on Tuesday.

In Tokyo, electronics shares were higher, with Panasonic gaining 2.60% to ¥11 43 and Sony up 1.45% at ¥5 780.

Mitsubishi Motors was up 2.01% at ¥710 after it sacked Carlos Ghosn as chairman, tracking Nissan's decision to dismiss him after his dramatic arrest last week.

Nissan was up 0.43% at ¥982.7, Toyota was 0.72% higher at ¥6 854 and Honda was up 1.61% at ¥3 209.

In New York, the Dow closed up 1.5% at 24 640.24.