Tokyo Shares Open Higher

Tokyo, (APP - UrduPoint / Pakistan Point News - 4th Apr, 2024) Tokyo stocks opened higher on Thursday after US tech shares gained in mixed Wall Street trade.

The benchmark Nikkei 225 index was up 1.24 percent, or 489.25 points, at 39,941.10 in early trade, while the broader Topix index added 0.90 percent, or 24.31 points, to 2,730.82.

"The Japanese market is expected to start with gains after high-tech shares were bought in the US market," senior market analyst Toshiyuki Kanayama of Monex said.

Matsui Securities said bargain-hunting purchases were also supporting the market.

US stocks finished little changed following mixed economic indicators including stronger-than-expected payroll data and a weak reading for service sector growth.

The Dow Jones Industrial Average finished down 0.1 percent, while the broad-based S&P 500 added 0.1 percent and the tech-rich Nasdaq Composite Index gained 0.2 percent.

The Dollar fetched 151.66 Yen in early Asian trade, against 151.70 yen in New York.

In Tokyo, electronic parts maker TDK was up 4.49 percent at 7,776 yen, industrial robot maker Fanuc was up 4.07 percent at 4,352 yen, and chip-making equipment manufacturer Tokyo Electron was up 3.48 percent at 6,550 yen.

Shipping firm Kawasaki Kisen was up 3.44 percent at 2,042.5 yen. Hitachi rose 3.03 percent to 13,930 yen, and trading house Mitsui and Co. gained 2.85 percent to 7,119 yen.