TOKYO, Oct 24, 2018 (BSS/AFP) – Tokyo stocks opened higher on Wednesday as
bargain-hunters moved in after a sharp drop a day earlier on lingering
worries over geopolitical risks.
The benchmark Nikkei 225 index rose 0.77 percent or 168.68 points to
22,179.46 in early trade, while the broader Topix index was up 0.69 percent
or 11.32 points at 1,662.04.
“Stocks are rebounding after a sharp dip on Tuesday as geopolitical
factors are being gradually digested by investors,” said Hiroaki Hiwata,
strategist at Toyo Securities, citing the drip-feed of revelations about
murdered Saudi Arabian journalist Jamal Khashoggi.
The rebound came after global stocks slumped on worries over a spate of
issues from US tensions with Russia and Saudi Arabia to trade issues with
China.
The dollar fetched 112.37 yen in Asian trade against 112.41 yen in New
York late Tuesday.
In Tokyo, SoftBank was up 0.51 percent at 9,195 yen following reports that
its founder Masayoshi Son had skipped an investment forum in Saudi, but had
met with crown prince Mohammed bin Salman.
Game giant Nintendo was up 0.29 percent at 37,630 yen while Nidec, an auto
and electronic parts maker, jumped 3.95 percent 14,620 yen.