Tokyo markets open higher
Pedestrians stand in front of an electronic board displaying the numbers of the Tokyo Stock Exchange share price in Tokyo on June 17, 2024. Tokyo stocks opened lower on June 17 as a higher yen and falls in two of the three main US indexes weighed on the market. (Photo by Kazuhiro NOGI / AFP)
Tokyo, Japan — Tokyo stocks opened higher on Wednesday, with investors cheered by rallies on the tech-rich US Nasdaq index after Nvidia shares closed nearly seven percent higher.
The benchmark Nikkei 225 index was up 0.40 percent, or 157.10 points, at 39,330.25 in early trade, while the broader Topix index added 0.08 percent, or 2.35 points, to 2,789.72.
The dollar fetched 159.70 percent, against 159.68 yen in New York on Tuesday.
READ: Asian markets rebound on bargain-buying but tech worries linger
Overnight on Wall Street, the Nasdaq closed up 1.3 percent after Nvidia surged 6.8 percent, turning around a recent decline.
Article continues after this advertisement“The market in Japan was expected to start higher following rallies of high-tech shares in the US market,” Toshiyuki Kanayama, senior market analyst at Monex, said.
Article continues after this advertisementAlso citing Nvidia’s ascent, the Nikkei business newspaper said that “buying has been driven mainly by semiconductor-linked shares.”
The US company briefly became the world’s biggest publicly listed firm last week, with a market capitalisation of more than $3.3 trillion.
Among major shares in Tokyo, Tokyo Electron jumped 1.59 percent to 34,950 yen, SoftBank Group added 1.02 percent to 10,040 yen and Sony Group gained 0.18 percent to 13,195 yen.
