TOKYO, Japan (AFP) — Tokyo stocks opened higher on Wednesday as investors adjusted their positions amid lingering fears over the impact of the new coronavirus on the economy.
The benchmark Nikkei 225 index was up 0.65 percent, or 151.73 points, at 23,345.53 in early trade, while the broader Topix index was up 0.56 percent, or 9.26 points, at 1,674.97.
The dollar fetched 109.91 yen in early Asian trade, against 109.87 yen in New York.
“Japanese shares are expected to rebound… but movement will be weak,” Okasan Online Securities said in a commentary.
Its chief strategist Yoshihiro Ito said “continued falls in US shares are weighing on the Japanese market amid worries that impact of the new coronavirus could grow.”
Mizuho Securities said in a commentary: “Worries over the impact of the new coronavirus on corporate performance will be weighing on the market, while purchases following a four-day losing streak are likely supporting trade today.”
In Tokyo, major shares were largely higher with SoftBank Group trading up 1.46 percent at 5,346 yen, Nintendo up 0.80 percent at 40,110 yen, and Sony up 0.94 percent at 7,333 yen.
On Wall Street, the Dow ended down 0.6 percent at 29,232.19.
© Agence France-Presse