Tokyo shares give up gains on profit-taking

Tokyo shares opened higher Tuesday following gains on Wall Street led by tech giants, but soon receded on profit-taking, with investors cautious over uncertainties linked to Ukraine.

The benchmark Nikkei 225 index initially climbed at the open, but dipped 0.11 per cent, or 31.91 points, to 27,705.28 in early trade.

The broader Topix index fell 0.26 per cent, or 5.08 points, to 1,948.55.

Mizuho Securities said in a note that “buying was likely to dominate today, with equities, particularly high-tech stocks, expected to be buoyed by the rise in the Nasdaq index.”

In New York, the tech-rich Nasdaq Composite Index jumped 1.9 per cent, with Amazon, Apple and Google-parent Alphabet all advancing more than two per cent.

Twitter surged 27.1 per cent after Tesla chief Elon Musk disclosed he took a 9.2 per cent stake in the social media company.

But with the Ukraine situation still uncertain, traders were cautious.

Japanese Foreign Minister Yoshimasa Hayashi on Monday condemned the “exceptionally cruel” violence against civilians near Kyiv in an apparent reference to killings in the town of Bucha.