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  05 Jul 2022, 10:52

Tokyo shares open higher

TOKYO, July 5, 2022 (BSS/AFP) - Tokyo stocks opened higher Tuesday as
investors searched for clues after US markets were closed for a national
holiday.

The benchmark Nikkei 225 index gained 0.74 percent, or 193.31 points, to
26,347.12 in early trade, while the broader Topix index climbed 0.55 percent,
or 10.36 points, to 1,880.07.

The dollar stood at 135.87 yen compared with 135.69 yen in London.

The US market was closed on Monday for Independence Day, meaning "Tokyo
shares are expected to lack a clear sense of direction today," Okasan Online
Securities said.

The Nikkei is likely to stay around the 26,000 mark, the brokerage said in a
note.

Global investors are digesting the news that Germany logged its first trade
deficit since 1991, partly due to soaring energy prices, fuelling worries
over European gas.

"Europe remains stuck in the middle between the Russia/Ukraine crisis and a
weakening global economy," said Tapas Strickland of National Australia Bank.

Market commentators also noted reports that US President Joe Biden is
preparing to roll back some tariffs on Chinese imports as he attempts to tame
inflation.

Among major shares, Sony Group rose 0.32 percent to 11,070 yen and SoftBank
Group rose 2.61 percent to 5,421 yen. Uniqlo operator Fast Retailing jumped
2.98 percent to 69,380 yen.

Advantest, which makes testing kits for semiconductors, rose 1.56 percent to
7,180 yen, and energy developer Inpex rose 1.10 percent to 1,466 yen.

Leading maritime shipping firm Nippon Yusen fell 1.30 percent to 9,120 yen.

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