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Tokyo stocks open higher

By AFP - Nov 27,2023 - Last updated at Nov 27,2023

TOKYO — Tokyo stocks started higher on Monday supported by gains in US blue chips.

The benchmark Nikkei 225 index was up 0.21 per cent, or 70.07 points, at 33,695.60 in early trade, while the broader Topix index added 0.13 per cent, or 3.13 points, to 2,394.07.

"The Japanese market is expected to start with gains as the US Dow extended gains," Senior Market Analyst Toshiyuki Kanayama of brokerage Monex said.

US markets closed early on "Black Friday", the Friday after the Thanksgiving holiday when retailers often offer major discounts.

The Dow Jones Industrial Average rose 0.3 per cent to 35,390.15, the broad-based S&P 500 edged up 0.1 per cent, while the tech-heavy Nasdaq ticked down 0.1 per cent.

"As we transition into the last month of 2023, December, the upcoming week holds several key reports," said Stephen Innes at SPI Asset Management.

"Early in the week, reports on Black Friday and Cyber Monday sales are expected, offering insights into consumer spending during the holiday shopping season," he said.

Other US data include a fresh "October PCE [Personal Consumption Expenditures] Inflation report" which "is a significant indicator closely watched by the Federal Reserve for assessing inflation trends", he added.

The dollar fetched 149.55 yen in early Asian trade, against 149.48 yen in New York on Friday.

Among major shares in Tokyo, industrial robot maker Fanuc was up 2.55 per cent at 4,215 yen, shipping firm Kawasaki Kisen was up 1.98 per cent at 5,298 yen, and Olympus was up 1.14 per cent at 2,253 yen.

Sony Group was up 1.32 per cent at 13,020 yen. Chip-testing equipment maker Advantest was up 0.46 per cent at 4,553 yen.

 

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