Achi news desk-
Tokyo, (APP – UrduPoint / Pakistan Point News – 29th Mar, 2024) Tokyo markets opened higher on Friday after the Dow and S&P 500 closed at record highs on Wall Street.
The benchmark Nikkei 225 index added 0.48 percent, or 193.04 points, to 40,361.11 in early trade, while the broader Topix index rose 0.58 percent, or 16.03 points, to 2,766.84.
“Tokyo shares are expected to get off to a strong start after the Dow and S&P 500 hit record highs,” brokerage house Monex said.
“In this environment, a key point will be to see if the Nikkei can move even higher after a round of morning buying.”
Investors were optimistic that the Tokyo stock market could extend recent gains in the coming days, Nomura Securities said.
“We see high hopes for semiconductor shares on the back of AI-driven demand,” he said.
“There are also hopes for value shares as the Tokyo Stock Exchange drives corporate governance reforms.
Investors expect further gains in Tokyo. “
Among major shares, Toyota rose 0.18 percent to 3,813 yen and Fast Retailing climbed 1.33 percent to 47,330 yen.
Semiconductor shares were also up. Tokyo Electron gained 0.10 percent to 39,300 yen and Advantest added 0.24 percent to 6,711.
Video game giant Sega Sammy rose 8.01 percent to 2,016 yen after announcing a further 240 job cuts in Europe to increase its profitability in the region.
Many stock markets around Asia, including Hong Kong, were closed for Good Friday.
Among those trading, Seoul was up 0.2 percent, while Taipei gained 0.5 percent.
The Dollar stood at 151.42 yen, almost flat from 151.39 yen in New York.
The euro was little changed against the dollar at $1.0783, while the pound was at $1.2628, compared with $1.2619 in New York.
