Tokyo stocks open modestly higher

Tokyo stocks opened slightly higher on Wednesday, as positive sentiment from China’s announcement of stimulus and bargain-hunting purchases offset the negative impact of losses on Wall Street.

The benchmark Nikkei 225 index was up 0.20 percent or 41.11 points at 20,497.19 in early trade, while the broader Topix index was up 0.13 percent or 1.92 points at 1,491.61.

“Japanese shares are seen testing a rebound in the market, even if early trade is seen affected by the negative impact from falls in US shares,” Okasan Online Securities said in a commentary.

“The Chinese government’s announcement of measures to stimulate consumption will be supporting Japanese shares,” it added.

The dollar fetched 105.54 yen in early Asian trade, against 105.77 yen in New York late Tuesday.

In Tokyo, real estate firms led gains, with Mitsui Fudosan rising 2.26 percent to 2,528.5 yen and Mitsubishi Estate trading up 2.07 percent at 2,038 yen.

On Wall Street, the Dow ended down 0.5 percent at 25,777.90.

Credit : http://www.bssnews.net/?p=262912

Comments are closed, but trackbacks and pingbacks are open.