Tokyo Stocks Open Higher After Upbeat US Data
The benchmark Nikkei 225 index climbed 1.44 percent, or 401.72 points, to 28,221.05 in early trade, while the broader Topix index rose 1.07 percent, or 20.66 points, to 1,954.31.
The Japanese market will likely develop "solid" gains on Friday, Okasan Online Securities said, in part because concerns are receding over inflation in the United States, which some investors had feared could trigger a global recession.
In Tokyo, SoftBank Group surged 3.44 percent to 5,498 yen after the investment behemoth announced Wednesday that it expects to report a gain of about $34 billion by relinquishing a portion of its stake in e-commerce giant Alibaba.
Toyota, meanwhile, climbed 1.26 percent to 2,114.5 yen and Sony Group jumped 1.65 percent to 11,395 yen, while Uniqlo operator Fast Retailing gained 1.57 percent to 84,080 yen.