Tokyo stocks open slightly higher after Wall St gains
AFP – Tokyo stocks opened slightly higher Friday, propped up by a lower yen and gains on Wall Street, but traders appeared in wait-and-see mode ahead of crucial US jobs data.
The benchmark Nikkei 225 index rose 0.20 percent or 43.94 points to 21,689.36 in early trade while the broader Topix index was up 0.16 percent or 2.75 points at 1,727.36.
"A wait-and-see mood tends to increase ahead of the release of US jobs data… but the market will likely stay solid with risk aversion among investors receding," Okasan Online Securities said in a commentary.
Market players scrutinise the monthly jobs report from the US Department of Labor, set to be released later Friday, for clues on the US monetary policy.
Wall Street stocks moved higher for the third straight session on Thursday as investors judged recent US-China trade war fears may be overblown.
The dollar was trading at 107.13 yen, off from 107.38 yen in New York Thursday afternoon but still up from rates below 107.00 when the Tokyo market closed on Thursday.
A lower yen is good for Japanese exporters as it inflates their profits earned overseas.
Toyota shares added 0.23 percent to 6,766 yen while Nissan was up 0.67 to 1,116 yen.
Takeda Pharmaceutical fell 3.83 percent to 5,063 yen on reports that it was moving towards a giant take-over of Ireland-based drugmaker Shire.