Tokyo stocks open higher extending US gains
TOKYO, Nov 30, 2021 (BSS/AFP) - Tokyo stocks opened higher on Tuesday,
supported by a rebound on Wall Street but worries over the Omicron variant of
the coronavirus hung over the market.
The benchmark Nikkei 225 index was up 1.12 percent, or 318.09 points, at
28,602.01 in early trade, while the broader Topix index was up 1.12 percent,
or 21.82 points, at 1,970.30.
Japanese shares were rebounding partly in response to sharp falls in
previous sessions, supported by US gains, Okasan Online Securities said in a
However, uncertainties over the impact of Omicron and unchanged central
bank policies mean share prices are not rising sharply, it added.
"Japan's new border controls over the variant, which are stricter than the
US's, could also weigh on the country's economic recovery," it added.
The dollar fetched 113.80 yen in early Asian trade, against 113.58 yen in
New York late Monday.
Japan's latest job market data was mixed, with the jobless rate improving
to 2.7 percent in October from 2.8 percent in the previous month, while the
ratio of jobs to job-seekers slightly worsened to 1.15, meaning there are 115
openings for every 100 people seeking employment.
Investors were also awaiting China's manufacturing PMI in November, due
later in the day, dealers said.
In Tokyo, Shionogi was up 0.10 percent at 8,093 yen after a report said the
pharmaceutical firm is mulling the development of a vaccine for the Omicron
Nissan was off 1.74 percent at 583.2 yen after it said its global output in
October dived 21.5 percent and it unveiled plans for electric and hybrid
vehicles to make up half its global sales by 2030.
Its bigger rival Toyota was up 1.44 percent at 2,041 yen despite a 25.8
percent decline in global output in October.
Tech firms were higher, with Sony Group rallying 2.15 percent to 14,045
yen, NEC trading up 2.14 percent at 5,240 yen and Panasonic up 0.90 percent
at 1,284.5 yen.