Tokyo shares open higher

Sun Online Desk

16th February, 2021 12:39:09 PM printer

Tokyo shares open higher

Tokyo stocks opened higher on Tuesday as investors kept a bullish outlook with Japan preparing to start vaccinations against the coronavirus, fuelling hopes for economic normalisation.

The benchmark Nikkei 225 index rose 0.48 percent, or 145.59 points, to 30,229.74 in early trade, while the broader Topix index advanced 0.37 percent, or 7.21 points, to 1,961.15.

The market was also buoyed by global rallies overnight spurred by expanding coronavirus vaccination drives as well as hopes for huge US stimulus.

The Nikkei on Monday had closed above 30,000 for the first time since 1990.

Recent gains may mean that a period of correction is approaching, with the Nikkei seen as likely to take a breather soon, Okasan Online Securities said.

“Various media are reporting the rise of Japanese shares, and the market is attracting a lot of attention,” it added.

“Because recent gains have been made at a high speed, there might be times when we will see investors locking in their profit.”

The dollar fetched 105.39 yen, nearly flat from 105.35 yen in London overnight.

US markets were closed for Presidents Day.

Among major shares, Sony firmed 1.96 percent to 12,205 yen. SoftBank Group added 2.35 percent to 10,240 yen.

Uniqlo-operator Fast Retailing rose 2.10 percent to 101,550.

But Toyota fell 0.35 percent to 8,426 yen. Its rival Nissan also dropped 1.62 percent to 600 yen.


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