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  18 May 2022, 10:12

Tokyo stocks open higher extending US gains

TOKYO, May 18, 2022 (BSS/AFP) - Tokyo stocks opened higher on Wednesday,
extending Wall Street rallies, where investors were encouraged by brisk
retail sales data.

The benchmark Nikkei 225 index was up 0.97 percent, or 258.25 points, at
26,918.00 in early trade, while the broader Topix index was up 0.84 percent,
or 15.74 points, at 1,882.45.

Rises in Japanese shares in early trade could be short-lived "as there are
few other market-moving events," Okasan Online Securities said in a note.

Japan's GDP in the first quarter to March was down 0.2 percent, according to
data published before the opening bell, "but the decline has already been
digested by the market" based on pre-release forecasts, Okasan said.

The dollar fetched 129.27 yen in early Asian trade, against 129.37 yen in New
York.

Among major shares in Tokyo, Toyota was up 0.93 percent at 2,052 yen, Nissan
rallied 3.08 percent to 499.4 yen, Sony Group climbed 2.54 percent to 11,525
yen, and SoftBank Group gained 2.23 percent to 5,236 yen.

 

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