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Tokyo stocks open higher after US gains

AFP . Tokyo
18 Jun 2024 09:08:45 | Update: 18 Jun 2024 09:08:45
Tokyo stocks open higher after US gains
A man walks past an electronic board showing sharply lower numbers on the Tokyo Stock Exchange in Tokyo on November 4, 2022 — AFP Photo

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 per cent, or 323.40 points, to 38,425.84, while the broader Topix index rose 0.70 per cent, 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 per cent and 0.8 per cent, respectively. The Dow rose 0.5 percent.

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

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

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