TOKYO: Tokyo stocks opened higher on Monday, supported by record closes on Wall Street, while SoftBank soared five percent after it said it was considering listing its mobile unit.
The benchmark Nikkei 225 index edged up 0.65 percent, or 154.29 points, to 23,808.11 in early trade while the broader Topix index opened up 0.66 percent, or 12.46 points, at 1,888.70.
The dollar was at 111.08 yen in early Asian trade, against 111.06 yen in New York late Friday and 111.22 yen in Asia Friday.
“Record closes on Wall Street last weekend (are) seen prompting purchases in the Japanese market, but a sense of direction could disappear later as the US market is closed later Monday,” Okasan Online Securities said in a commentary.
SoftBank Group surged as much as 5.9 percent to 9,460 yen ($85) a few minutes after the stock market opened, after the technology investor said listing its mobile unit was a management “option” following reports that it could raise some $18 billion in the public offering.
Mitsubishi UFJ Financial was 1.79 percent higher at 888.8 yen while precision instruments makers were also higher, with Canon trading up 0.67 percent to 4,310 yen and Nikon up 0.93 percent at 2,260 yen.
On Wall Street Friday, all three major indices again ended at records, with the Dow Jones Industrial Average up 0.9 percent to close at 25,803.19.
The US market will be on holiday on Monday for Martin Luther King Jr. Day.
Source: Brecorder.com
