Share

Tokyo stocks open higher helped by cheaper yen

Tokyo - Tokyo stocks opened higher on Friday helped by a cheaper yen and rebounds on US markets.

The benchmark Nikkei 225 index gained 0.70%, or 155.39 points, to 22 343.35 in early trade, while the broader Topix index was up 0.56%, or 9.51 points, at 1 719.19.

Japanese shares are advancing "against the backdrop of a calming in the external environment," including rallies on Wall Street, Okasan Online Securities said in a commentary.

"As the yen's depreciation is proceeding, high-tech shares may see (upward) revision" in pricing, it added.

However, analysts noted investors may turn to profit-taking at some point Friday ahead of a three-day weekend, with the Japanese market closed on Monday for a national holiday.

The dollar changed hands at ¥112.68 in Asian trade, up from ¥112.01 in New York late on Thursday.

In Tokyo, blue-chip exporters were higher with Sony gaining 1.48% to ¥5 880, Panasonic up 1.48% at ¥5 880 and Kyocera up 1.41% at ¥6 233.

Fast Retailing, Uniqlo casual wear operator, rallied 4.99% to ¥5 169 after it reported a better-than expected quarterly operating profit of ¥68.4bn ($610 million).

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.87
+0.3%
Rand - Pound
23.84
+0.3%
Rand - Euro
20.38
+0.3%
Rand - Aus dollar
12.32
+0.2%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders