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22 July 2024

Business Insider Bangladesh

Tokyo stocks open higher after US gains

BI Desk || BusinessInsider

Published: 16:59, 18 June 2024  
Tokyo stocks open higher after US gains

Photo: Collected

Tokyo stocks opened higher on Tuesday after Wall Street rallied to fresh records, fuelled by enthusiasm over artificial intelligence.

The benchmark Nikkei 225 index climbed 0.85 percent, or 323.40 points, to 38,425.84, while the broader Topix index rose 0.70 percent, or 19.01 points, to 2,719.02.

"The majority of stocks in the Dow index rose, especially Apple. The Japanese market is expected to rise following gains on Wall Street," brokerage house Monex said.

In New York, the tech-rich Nasdaq index and the broad-based S&P 500 both hit new records, climbing 1.0 percent and 0.8 percent, respectively. The Dow rose 0.5 percent.

In Tokyo, tech shares were higher, with chip-linked Tokyo Electron jumping 1.94 percent to 34,740 yen and industrial robot maker Fanuc gaining 1.17 percent to 4,315 yen.

Toyota, which holds its annual general shareholder meeting on Tuesday, climbed 1.12 percent to 3,070 yen. Its rival Honda jumped 2.13 percent to 1,677.5 yen.

Uniqlo operator Fast Retailing advanced 0.66 percent to 39,720 yen.

The dollar fetched 157.69 yen against 157.72 yen in New York on Monday.