TOKYO, April 17, 2023 (BSS/AFP) - Tokyo stocks opened higher on Monday despite losses on Wall Street on disappointing US retail sales, with a cheaper yen against the dollar offering some support to investor sentiment.

The benchmark Nikkei 225 index was up 0.21 percent, or 58.51 points, at 28,551.98 in early trade, while the broader Topix index added 0.34 percent, or 6.84 points, to 2,025.56.

The Japanese market was "likely to move in a narrow range with a mix of positive and negative factors -- the US market fell while the dollar-yen exchange rate tipped towards a cheaper yen," Monex senior market analyst Toshiyuki Kanayama said in a note.

After a six-day winning streak, profit-taking sell orders could weigh on the market, he added.

The dollar fetched 133.86 yen in early Asian trade, up from 133.75 yen in New York and 132.45 yen in late Asian trade on Friday.

Among individual equities, Panasonic was up 2.45 percent at 1,275.5 yen after weekend reports said it was considering building a battery plant in Oklahoma, its third battery plant for electric vehicles in the United States.

Honda was up 0.66 percent at 3,500 yen, after a report said it would rebuild its headquarters in Tokyo, investing 50 billion yen ($380 million) or more with construction of the new CO2 emission-free building starting around 2025.

Its bigger rival Toyota advanced 1.36 percent to 1,832.5 yen, while Nissan climbed 1.14 percent to 496.4 yen.

Industrial robot maker Fanuc was up 3.08 percent at 4,714 yen, while Sony Group was down 0.25 percent at 12,080 yen and Uniqlo casual wear operator Fast Retailing was off 1.80 percent at 32,250 yen.