Tokyo Stocks Open Higher – UrduPoint

  • February 13, 2024

Tokyo, (UrduPoint / Pakistan Point News – 13th Feb, 2024) Tokyo stocks opened higher on Tuesday after a long weekend following gains on Wall Street.

The benchmark Nikkei 225 index was up 0.99 percent, or 365.64 points, at 37,263.06 in early trade, while the broader Topix index added 0.88 percent, or 22.46 points, to 2,580.34.

“Japanese shares are expected to start with gains as the US Dow index renewed its record overnight, while the S&P on Friday also renewed its record, rising above 5,000 for the first time,” senior market analyst Toshiyuki Kanayama of Monex said.

Overnight in New York, the Dow Jones Industrial Average finished up 0.3 percent at 38,797.38, a new record.

The broad-based S&P 500 slipped 0.1 percent to 5,021.84, edging down from a record, while the tech-rich Nasdaq Composite Index declined 0.

3 percent to 14,942.55.

Investors are now awaiting key inflation data that will influence US monetary policy, analysts also said.

The Dollar fetched 149.41 Yen in early Asian trade, against 149.39 yen in New York late Monday.

Among major shares in Tokyo, SoftBank Group soared 9.50 percent to 8,750 yen after its US-listed chip unit Arm extended rallies.

Chip-making equipment manufacturer Tokyo Electron surged 10.30 percent to 32,820 yen after it revised up its full-year sales and profit forecasts.

Sony Group was up 2.21 percent at 14,550 yen. Toyota was up 1.53 percent at 3,374 yen. Shipbuilder Hitachi Zosen was up 2.61 percent at 1,063 yen.

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