Tokyo Stocks Open Higher Ahead Of Holiday

Muhammad Irfan Published November 22, 2022 | 08:00 AM

Tokyo, (UrduPoint / Pakistan Point News - 22nd Nov, 2022 ) :Tokyo stocks opened higher on Tuesday, bucking a downturn on Wall Street as markets fretted over the implications of China's latest Covid-19 wave.

The benchmark Nikkei 225 index was up 0.44 percent, or 123.48 points, at 28,068.27 in early trade, while the broader Topix index was up 0.64 percent, or 12.72 points, at 1,985.29.

"As the US Dow ended only slightly down, Japanese shares are seen starting with gains," Monex senior market analyst Toshiyuki Kanayama said in a note.

He said investors would likely take "a wait-and-see approach" ahead of a public holiday Wednesday when the market will be closed.

The Dollar fetched 142.21 Yen in early Asian trade, against 142.10 yen in New York late Monday.

Among major shares in Tokyo, Toyota was up 2.47 percent at 2,052.5 yen, SoftBank Group was 0.94 percent higher at 6,134 yen, and Japan Airlines climbed 0.68 percent to 2,655 yen.

Nippon Steel was up 2.22 percent at 2,277.5 yen.

Shionogi rose 2.14 percent to 7,127 yen after reports said a Covid pill developed by the pharmaceutical firm would be discussed at a health ministry meeting later in the day for potential approval.