Home ›› 04 Jun 2022 ›› Stock
Tokyo stocks opened higher on Friday, extending rallies on Wall Street ahead of US jobs data due later in the day.
The benchmark Nikkei 225 index was up 0.92 per cent, or 251.42 points, at 27,665.30 in early trade, while the broader Topix index advanced 0.60 per cent, or 11.52 points, to 1,937.91.
Friday is “a positive day for risk sentiment ahead of US payrolls tonight on no new news,” said Tapas Strickland, senior economist at National Australia Bank, noting that US equities were up and Treasury yields were stable.
Wall Street stocks rallied after two negative sessions ahead of key jobs data, as markets fixate on the implications for inflation and monetary policy.
Payroll services firm ADP said private employment rose by 128,000 positions last month, far less than economists expected and well below April’s total.
While the ADP data is not necessarily a harbinger of Friday’s US government jobs report, some market watchers think it could show weakening hiring and less wage pressure.
The dollar fetched 130.00 yen in Asia, against 129.85 yen in New York late Thursday.
