Tokyo stocks open sarply higher

Tokyo stocks opened higher on Tuesday, rebounding from the previous session as Wall Street came back from a rout last week.

The benchmark Nikkei 225 index gained 1.79 percent or 500.60 points to 28,511.53 in early trade, while the broader Topix index was up 1.74 percent or 33.03 points at 1,932.48.

“Japanese shares are seen starting with buying after US shares bounced back” for the first time in six sessions, Mizuho Securities said in a note.

“However, a wait-and-see attitude may grow in later trade ahead of Federal Reserve Chair (Jerome) Powell’s testimony in the US Congress” later in the day, it added.

The dollar fetched 110.31 yen in early Asian trade, against 110.18 yen in New York late Monday.

In Tokyo, Nissan was up 3.47 percent at 541.3 yen ahead of its general shareholders meeting, while its rivals were also higher, with Toyota trading up 2.85 percent at 9,913 yen and Honda up 2.47 percent at 3,480 yen.

Among other shares, Sony was up 2.70 percent at 10,825 yen and Panasonic up 3.56 percent at 1,247.5 yen.


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