23 May 2022, 10:30

Tokyo stocks open higher after mixed US close

TOKYO, May 23, 2022 (BSS/AFP) - Tokyo stocks opened higher Monday after a

mixed US session, with trading expected to stay within a narrow range with
some support from bargain hunting.

The benchmark Nikkei 225 index was up 0.99 percent, or 264.04 points, at
27,003.07 in early trade, while the broader Topix index was up 0.84 percent,
or 15.85 points, at 1,893.22.

"Japanese shares are expected to move in a narrow range, on cautious views
over the US economic outlook" after the Dow and S&P 500 finished Friday's
rollercoaster session essentially flat, Mizuho Securities said.

"Buy orders could emerge for stocks that have fallen enough, so the day's
trade will see ebbs and flows," it added.

The dollar fetched 127.82 yen in early Asian trade, against 127.86 in New
York on Friday.

Toyota was up 0.34 percent at 2,005 yen, Sony Group was up 0.87 percent at
11,625 yen, and SoftBank Group rallied 1.61 percent to 5,316 yen.

Uniqlo operator Fast Retailing was up 1.29 percent at 60,400 yen and
industrial robot maker Fanuc rallied 2.51 percent to 21,035 yen.