Tokyo Stocks Open Higher With Eyes On Japan-US Summit
Sumaira FH Published April 16, 2021 | 08:40 AM
Tokyo, (UrduPoint / Pakistan Point News - 16th Apr, 2021 ) :Tokyo stocks opened higher on Friday tracking rallies on Wall Street where high-tech shares led the gains, with investors eyeing a US-Japan summit later in the day.
The benchmark Nikkei 225 index was up 0.47 percent or 138.10 points at 29,780.79 in early trade, while the broader Topix index advanced 0.19 percent or 3.78 points to 1,962.91.
"Japanese shares are seen rising supported by rallies in US stocks," Toshiyuki Kanayama, senior market analyst at Monex, said in a note.
Investors will however gradually move to a wait-and-see attitude ahead of a summit between Japanese Prime Minister Yoshihide Suga and US President Joe Biden, analysts added.
The Dollar fetched 108.66 Yen in early Asian trade, against 108.72 yen in New York late Thursday.
Among major shares in Tokyo, Uniqlo casual wear operator Fast Retailing was up 1.
26 percent at 90,930 yen and IT firm Fujitsu was up 1.73 percent at 16,500 yen.
Toshiba dropped 4.29 percent to 4,685 yen after reports said the Japanese company is set to reject a buyout offer from a private equity fund.
Semiconductor-linked shares were among the winners, with chip-making equipment manufacturer Tokyo Electron trading up 0.94 percent at 49,400 yen and chip-testing equipment maker Advantest up 1.05 percent at 10,600 yen.
On Wall Street, stocks shot to fresh records on blowout earnings from large banks and strong US economic data.
The Dow climbed 0.9 percent to a record 34,035.99 and the broad-based S&P 500 gained 1.1 percent also ending at a record, while the tech-rich Nasdaq jumped 1.3 percent.
Recent Stories
Join vivo's "Light it Up" Social Media Contest in Ramadan to Win vivo V30 5G
Pakistan v New Zealand T20I series: Tickets to go on sale from today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 29 March 2024
Today Gold Rate in Pakistan 29 March 2024
Journalists call for global action to end Gaza’s humanitarian crisis
CM for generating opportunities to bring direct int'l investment
Pakistan retains position in FTSE secondary emerging market
High Commissioner of Malaysia hosts Iftar dinner reception
NEPRA announces 2nd quarterly adjustment in power bills with Rs 1.68 cut per uni ..
Hoopo Inc. Collaborates with SAU to Install Solar-Powered RO Plant
04 killed in Spain as Storm Nelson looms
Russian military jet crashes into sea off Crimea: Governor
More Stories From Business
-
Tractor production increase 68% in Jul-Feb
21 minutes ago -
Exchange rates for currency notes
1 hour ago -
Foreign exchange rates
1 hour ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 29 March 2024
3 hours ago -
Today Gold Rate in Pakistan 29 March 2024
4 hours ago -
Pakistan retains position in FTSE secondary emerging market
13 hours ago
-
Pakistan retains position in FTSE secondary emerging market
13 hours ago -
China's competitive car market at heart of global EV revolution
13 hours ago -
China's Xiaomi enters car market with new electric vehicle
13 hours ago -
Pak-Türkiye strategize to boost bilateral trade to $5 billion
15 hours ago -
Chief Representative of CFFEX in Pakistan and PSX Director meet Finance Minister
15 hours ago -
Banks to open on March 30, 31 to facilitate tax collection
16 hours ago