Tokyo Stocks Open Higher Despite Protests, US-China Tension

Tokyo, June 2 (UrduPoint / Pakistan Point News - 2nd Jun, 2020 ) :Tokyo stocks opened higher on Tuesday tracking rallies on Wall Street, shrugging off unrest in many US cities during anti-racism protests, and simmering US-China tensions.

The benchmark Nikkei 225 index was up 0.37 percent or 81.05 points at 22,143.44 in early trade, while the broader Topix index advanced 0.41 percent or 6.38 points to 1,575.13.

"The Japanese market is supported by rallies in US shares, but a sense of a short-term overheating could cap the upside," warned senior market analyst Toshiyuki Kanayama from Monex.

Higher US futures were for now outweighing the negative factors of unrest on American streets and worsening US-China tensions over Hong Kong, analysts said.

The Dollar fetched 107.62 Yen in early Asian trade, against 107.58 yen in New York on Monday.

In Tokyo, major shares were higher, with Sony trading up 1.16 percent at 7,054 yen, Toyota up 1.24 percent at 6,803 yen, and investment and telecom giant SoftBank Group up 1.36 percent at 5,086 yen.

On Wall Street, the Dow ended up 0.4 percent at 25,475.02.