Tokyo stocks open higher after Wall St rally

Tokyo stocks open higher after Wall St rally
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Tokyo: Tokyo stocks opened higher on Friday after Wall Street rallied ahead of a holiday weekend on upturns in the tech sector.

The benchmark Nikkei 225 index rose 1.00 percent or 211.28 points to 21,370.36 in early trade while the broader Topix index was up 0.72 percent or 12.27 points at 1,716.27.

“Higher US stock prices sent the market here higher,” said Toshihiko Matsuno at the investor information division of SMBC Nikko Securities.

“Further easing of tension over North Korea has also contributed to improving investor sentiment,” he added.

Before the long Easter holiday weekend, US stocks closed higher Thursday with the technology sector rallying after two bruising sessions.

Nissan shares were up 0.18 percent at 1,096 yen after Bloomberg news agency said that Renault was talking to the Japanese automaker about a merger that would create a new group that trades as a single stock.

The French company’s shares gained almost six percent on Thursday.

Matsuno said investors were waiting for further details or official comment on the news before making a large move.

Mobile operator and IT investor SoftBank Group rose 2.42 percent to 7,995 yen and Sony gained 0.41 percent to 5,131 yen.

The dollar was trading at 106.32 yen against 106.45 yen in New York on Thursday.

AFP