TOKYO: Tokyo shares opened in upward trend on Tuesday after Wall Street stocks advanced ahead of central bank decisions and important economic data.
The benchmark Nikkei 225 index added 0.72%, or 234.95 points, to 32,668.95 at the start, while the broader Topix index climbed 0.49%, or 11.00 points, to 2,249.77.
Toshiyuki Kanayama, Monex senior market analyst, said that Today’s Japanese markets are likely to start higher on the back of advanced US shares, AFP reported.
He said that the Nikkei index is expected to extend its gains, but traders are possibly to remain in a wait-and-see mode as the United States Consumer Price Index (CPI) is likely to be released in the evening.
The Dow Jones Industrial Average on Wall Street finished up 0.6%.
The broad-based S&P 500 added 0.9%, while the tech-rich Nasdaq Composite Index climbed 1.5%.
The CPI report will exoectedly influence whether the Federal Reserve (FR) follows expectations and skips an interest rate raise after more than a year of surges.
The US dollar fetched 139.45 yen in early Asian trade, in contrast to 139.56 yen in New York on Monday.
Chip-linked shares in Tokyo
In Tokyo trading, chip-linked shares went up, with Tokyo Electron advanced 3.05% to 19,535 yen and Advantest climbing 4.65% to 19,220 yen.
SoftBank Group advanced 3.78% to 6,222 yen while Uniqlo operator Fast Retailing climbed 1.32% to 35,250 yen.
Toyota advanced 2.99% to 2,131 yen.
