TOKYO: opened stronger Tuesday after closing at a new 26-year-high last week and following fresh records on the S&P 500 and Nasdaq that encouraged investor sentiment.
The benchmark Nikkei 225 index added 0.97 percent or 229.34 points to 23,943.87 in early trade while the broader Topix index opened up 0.75 percent or 14.05 points at 1,894.39.
Japanese markets were playing catch-up after closing Monday for a public holiday.
The Tokyo market “is in a favourable environment” but traders could start selling to adjust their positions towards the end of the session, SBI Securities said in a commentary.
The dollar traded at 113.12 yen in early Asian trade, slightly up from 113.08 yen in New York.
On Wall Street, the broad-based S&P 500 added 0.2 percent to end the session at 2,747.71, while the tech-rich Nasdaq Composite Index rose 0.3 percent to close at 7,157.39.
But the Dow Jones Industrial Average dipped 0.1 percent to 25,283.00, showing signs that momentum was petering out.
In Tokyo, exporters were broadly higher, with Sony gaining 0.88 percent to 5,512 yen and Toyota trading up 0.26 percent at 7,572 yen.
Banks were also higher, with Mitsubishi UFJ 0.92 percent higher at 43,000 yen and Sumitomo Mitsui Financial rising 1.08 percent at 5,150 yen.
Source: Brecorder.com
