Tokyo Stocks Open Higher

Tokyo, (APP - UrduPoint / Pakistan Point News - 22nd Mar, 2024) Tokyo shares opened higher on Friday after Wall Street stocks renewed all-time highs on optimism about the US economy and Fed policy.

The benchmark Nikkei 225 index was up 0.38 percent, or 153.77 points, at 40,969.43 in early trade, while the broader Topix index added 0.33 percent, or 9.21 points, to 2,805.42.

"Even though traders took heart from rallies in US shares, wariness over high share prices after days of gains could" weigh on the market, after Tokyo stocks enjoyed four straight days of rallies, Matsui Securities said.

Japan's core consumer price index stood at 2.8 percent in February, in line with market expectations and following 2.

0 percent inflation in January, according to government data released before the opening bell.

The data did not prompt a strong market reaction, though the Dollar slipped slightly to 151.45 Yen from around 151.63 yen before the release of the inflation index.

Overnight on Wall Street, all three major indices climbed to fresh records, led by the Dow Jones Industrial Average, which moved nearer to 40,000 points.

In Tokyo, Nissan was up 3.83 percent at 645 yen, Suzuki gained 3.60 percent to 6,819 yen, and tyre maker Bridgestone rose 2.93 percent at 6,788 yen.

Real estate firm Mitsui Fudosan gained 1.90 percent at 4,936 yen. Mizuho Financial Group was up 1.51 percent at 3,089 yen.