Tokyo Shares Open Higher

Tokyo, (APP - UrduPoint / Pakistan Point News - 9th May, 2024) Tokyo stocks opened higher on Thursday following gains on Wall Street, as investors focus on corporate earnings.

The benchmark Nikkei 225 index rose 0.15 percent, or 57.44 points, to 38,259.81 in early trade, while the broader Topix index added 0.31 percent, or 8.45 points, to 2,714.88.

"The Tokyo market had a buoyant start after the Dow's advance in the US and in a natural rebound from yesterday's sharp fall," brokerage house Monex said.

Tokyo investors are poring over earnings, with more major firms set to release results Thursday including Nissan, Takeda Pharmaceuticals and beverage giant Kirin.

Traders were also monitoring the forex market after recent suspected interventions by Japanese authorities to slow the yen's slide.

The Dollar stood at 155.46 yen, against 155.63 Yen overnight in New York.

Sony Group added 0.46 percent to 12,105 yen, energy developer Inpex rose 0.99 percent to 2,356 yen and Nintendo rose 2.02 percent to 7,485 yen.

Toyota fell 2.21 percent to 3,500 yen. The automobile giant on Wednesday issued a cautious outlook for the year ahead, while logging record earnings in the previous fiscal year.

Some semiconductor shares dropped after British chip designer Arm Holdings issued a cautious outlook. Tokyo Electron fell 0.52 percent to 36,090 yen.

Uniqlo operator Fast Retailing lost 0.29 percent to 41,040 yen.