Tokyo Stocks Open Higher After Europe Markets Rally
Muhammad Irfan Published September 08, 2020 | 08:10 AM
Tokyo, Sept 8 (UrduPoint / Pakistan Point News - 8th Sep, 2020 ) :Tokyo stocks opened higher on Tuesday, encouraged by rallies in major European markets with US markets closed for the Labor Day holiday.
The benchmark Nikkei 225 index was up 0.33 percent or 75.62 points to 23,165.57 in early trade, while the broader Topix index gained 0.16 percent or 2.60 points to 1,612.34.
"Japanese shares are seen supported by rallies in major European bourses," senior market analyst Toshiyuki Kanayama of Monex said in a commentary.
Some investors may be taking a wait-and-see approach with US markets closed for the day.
Traders were also watching the beginning of the race to decide Japan's next prime minister through the ruling Liberal Democratic Party's leadership election, Mizuho Securities said in a note.
Three candidates are likely to officially register their candidacy, with Shinzo Abe's right-hand man Yoshihide Suga widely expected to win.
The Dollar fetched 106.28 Yen in Asian trade, against 106.27 yen in London.
In Tokyo, Uniqlo casual wear operator Fast Retailing was up 1.39 percent at 66,990 yen, industrial robot maker Fanuc was up 2.20 percent at 21,095 yen, while chip-making equipment manufacturer Tokyo Electron was down 1.04 percent at 26,125 yen.
Japan's economy shrank 7.9 percent in April-June from the previous quarter, more than the initial 7.8 percent in preliminary data, the cabinet office said 10 minutes before the opening bell.
Related Topics
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 23 April 2024
Today Gold Rate in Pakistan 23 April 2024
Islam enlightened world with its teachings about knowledge: Dr Jamileh
Record London close as oil prices drop on easing Middle East fears
TV tower in Kharkiv struck as Russia captured village
LCCI language courses from May 1
Governor for service oriented governance in Punjab
Survivors tell of panic at C.Africa river boat disaster
Enrolment campaign, awareness walk held in Lower Chitral
“Say no to plastic- yes to tress” campaign kicks off in Attock
'PML-N secures people's trust in by-polls'
Girl dies as pole falls in street
More Stories From Miscellaneous
-
Iranian president Raisi given guard of honour at PM House
23 hours ago -
Intellectuals, writers accolades Naseer Mirza on his literary contribution
2 days ago -
Bahawalpur Adabi Sangat hosts memorable mushaira
2 days ago -
Cattle farming vital to alleviate poverty in rural areas
2 days ago -
Pakistan: A land of tourism, archeological wonders
2 days ago -
Transforming education sector: from job hunters to job creators
4 days ago
-
Amjad Bobby remembered on 19th death anniversary for timeless contributions to music
8 days ago -
Legendary actor Nadeem’s 26 films released on Eid-ul-Fitr days in 50 years
9 days ago -
Besant Hall Cultural Centre to celebrate evening with Sanam Marvi on 26 April
9 days ago -
Radio Bahawalpur presents program “Eidi Shidi”
12 days ago -
Radio Bahawalpur to broadcast Eid programs
14 days ago -
DC, DPO Haripur inspect bus terminals to review fares compliance
16 days ago