Tokyo stocks open higher after mixed US close

The benchmark Nikkei 225 index was up 0.99 per cent, or 264.04 points, at 27,003.07 in early trade. — Reuters pic

The benchmark Nikkei 225 index was up 0.99 per cent, or 264.04 points, at 27,003.07 in early trade. — Reuters pic

Monday, 23 May 2022 9:16 AM MYT

TOKYO, May 23 — Tokyo stocks opened higher today after a mixed US session, with trading expected to stay within a narrow range with some support from bargain hunting.

The benchmark Nikkei 225 index was up 0.99 per cent, or 264.04 points, at 27,003.07 in early trade, while the broader Topix index was up 0.84 per cent, or 15.85 points, at 1,893.22.

“Japanese shares are expected to move in a narrow range, on cautious views over the US economic outlook” after the Dow and S&P 500 finished Friday’s rollercoaster session essentially flat, Mizuho Securities said.

“Buy orders could emerge for stocks that have fallen enough, so the day’s trade will see ebbs and flows,” it added.

The dollar fetched ¥127.82 (RM4.39) in early Asian trade, against 127.86 in New York on Friday.

Toyota was up 0.34 per cent at ¥2,005, Sony Group was up 0.87 per cent at ¥11,625, and SoftBank Group rallied 1.61 per cent to ¥5,316.

Uniqlo operator Fast Retailing was up 1.29 per cent at 60,400 yen and industrial robot maker Fanuc rallied 2.51 per cent to ¥21,035. — AFP