Tokyo Stocks Open Higher

Tokyo, (APP - UrduPoint / Pakistan Point News - 17th Apr, 2024) Tokyo stocks opened higher on Wednesday after falls in the previous two sessions and Wall Street ended little changed.

The benchmark Nikkei 225 index was up 0.25 percent, or 97.81 points, to 38,569.01, while the broader Topix index was up 0.17 percent, or 4.53 points, to 2,701.64.

"In a trading that lacks a sense of direction, some investors may try" to buy shares after the Tokyo market fell for the two consecutive trading days, Matsui Securities said.

"With a dearth of fresh market-moving events to prompt active buying, momentum for upward movement could be limited," it added.

Overnight on Wall Street, the Dow Jones Industrial Average finished up 0.2 percent at 37,798.97, while the broad-based S&P 500 fell 0.

2 percent and the tech-rich Nasdaq slipped 0.1 percent.

The Dollar fetched 154.61 Yen in early Asian trade, against 154.72 yen in New York.

Among major shares, Kawasaki Heavy Industries was up 4.41 percent at 4,879 yen, real estate firm Mitsui Fudosan was up 2.96 percent at 1,669.5 yen, while Astellas Pharma was up 1.27 percent at 1,470 yen.

Sony Group was down 2.24 percent at 12,645 yen. Toyota was off 0.71 percent at 3,623 yen.

Japan booked a trade surplus of 366.5 billion yen ($2.37 billion), the first surplus in the past three months due to a decline in imports of liquified petroleum gas, data released 10 minutes before the opening bell by the finance ministry showed.

The data did not prompt strong market reactions.