TOKYO, March 29, 2024 (AFP) – Tokyo markets opened higher on Friday after the Dow and S&P 500 closed at new record highs on Wall Street.
The benchmark Nikkei 225 index added 0.48 percent, or 193.04 points, to 40,361.11 in early trade, while the broader Topix index rose 0.58 percent, or 16.03 points, to 2,766.84.
“Tokyo shares are expected to start strong after the Dow and the S&P 500 hit all-time highs,” brokerage house Monex said.
“In this environment, a key point will be to see if the Nikkei can move even higher after a round of buying in the morning.”
Investors were optimistic that the Tokyo bourse could extend recent surges in the coming days, Nomura Securities said.
“We are seeing high hopes for semiconductor shares on the back of AI-driven demand,” it said.
“There are also hopes for value shares as the Tokyo Stock Exchange drives corporate governance reforms. Investors are expecting further gains in Tokyo.”
Among major shares, Toyota rose 0.18 percent to 3,813 yen and Fast Retailing climbed 1.33 percent to 47,330 yen.
Semiconductor shares also firmed. Tokyo Electron gained 0.10 percent to 39,300 yen and Advantest added 0.24 percent to 6,711.
Video game giant Sega Sammy soared 8.01 percent to 2,016 yen after announcing 240 further job cuts in Europe to increase its profitability in the region.
Many stock markets around Asia, including Hong Kong, were closed for Good Friday.
Among those trading, Seoul was up 0.2 percent, while Taipei gained 0.5 percent.
The dollar stood at 151.42 yen, nearly flat from 151.39 yen in New York.
The euro was little changed against the dollar at $1.0783, while the pound stood at $1.2628, compared to $1.2619 in New York.
