Tokyo stocks open higher extending US rallies
Tokyo stocks opened higher Thursday, tracking Wall Street rallies on strong data and earnings, as the yen steadied following a shock Bank of Japan monetary policy tweak.
The benchmark Nikkei 225 index was up 0.71 percent, or 186.84 points, at 26,574.56 in early trade, while the broader Topix index was up 0.50 percent, or 9.52 points, at 1,902.84.
The yen steadied after its biggest daily gain versus the dollar in 24 years, following a surprise Bank of Japan adjustment to monetary policy.
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The dollar fetched 132.34 yen in early Asian trade, against 132.38 yen in New York and 132.08 yen in Tokyo on Wednesday.
"Japanese shares are seen starting with gains following US rallies," senior market analyst Toshiyuki Kanayama of Monex said in a note.
In the previous session, Tokyo shares closed lower for the fifth straight day, as the higher yen weighed on the market.
Overnight, Wall Street stocks jumped following a surprisingly strong consumer confidence report and Nike results that topped estimates.
The closely watched US consumer confidence index jumped more than expected to 108.3 this month, markedly higher than November's figure.
In Tokyo, Toyota was up 1.88 percent at 1,842 yen. Chip-testing equipment maker Advantest was up 0.78 percent at 9,050 yen.
Sony Group was up 0.54 percent at 10,240 yen, Panasonic was up 1.00 percent at 1,156.5 yen, and SoftBank Group was up 1.07 percent at 5,862 yen.
