TOKYO, Japan (AFP) — Tokyo stocks opened fractionally higher Tuesday following overnight gains on Wall Street, as investors searched for fresh news to move the market.
The benchmark Nikkei 225 index rose 0.06 percent, or 14.27 points, to 22,521.59 in early trade while the broader Topix index was up 0.04 percent, or 0.63 points, at 1,733.53.
With a dearth of major incentives, players will likely cherry pick selective shares like companies with strong earnings, before turning their eyes to other regional markets for news, analysts said.
Tokyo trading was expected to be “directionless,” Okasan Online Securities said in a commentary.
“The three major US indices all gained overnight. The forex market is stable. Buy orders should lead the way in the morning,” it said.
“But the domestic market lacks fresh clues. Like yesterday, players will monitor how Shanghai shares will move,” it said.
Major Wall Street stock indices finished solidly higher overnight, led by the tech-rich Nasdaq, which continued to rally following last week’s robust earnings from Apple and some other companies.
Investors also continued to monitor development related to fears over a US-China trade war.
The dollar traded at 111.29 yen in Tokyo against 111.39 yen in New York Monday.
Telecom and technology firm SoftBank jumped 5.77 percent to 9,977 yen in early trade after announcing strong quarterly earnings Monday.
Sony also added 1.00 percent to 6,135 yen.
But Toyota lost 0.15 percent to 7,122 yen, as did Uniqlo operator Fast Retailing, which lost 1.28 percent to 47,700 yen.
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© Agence France-Presse
