Tokyo shares open higher

Toky - Tokyo shares opened higher on Tuesday, with investors bargain hunting after recent losses sparked by wide-ranging concerns including the US-China trade war.

While Wall Street issues slipped overnight, the slowing speed of the fall and relative calm on the forex market comforted investors, Okasan Online Securities said in a note.

Market participants were also eager to buy shares after sharp losses in recent days, it added.

The Nikkei 225 index rose 0.21% or 47.39 points to 22 318.69 in early trade, while the broader Topix index edged up 0.09% or 1.56 points at 1 677.00.

The Tokyo market had been expected to open softer, under pressure from losses in the US, Okasan said.

"A technical rebound is likely to follow after a sharp fall yesterday," the brokerage said, referring to the Nikkei's 1.87% drop.

"The market is in rebound mode. With the forex market staying calm, selective buying came in to pick up bargains," it added.

The dollar stood at ¥111.84, slightly up from ¥111.79 in New York on Monday afternoon.

Among major shares, SoftBank added 2.96% to ¥9 525. Toyota rose 0.70% ¥6 495.

Sony edged up 0.06% to ¥6 222.

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER
ZAR/USD
16.92
(+1.33)
ZAR/GBP
21.36
(+0.76)
ZAR/EUR
19.18
(+0.84)
ZAR/AUD
11.82
(+0.73)
ZAR/JPY
0.16
(+1.03)
Gold
1808.26
(+0.80)
Silver
18.73
(+2.61)
Platinum
848.00
(+1.37)
Brent Crude
42.97
(-0.05)
Palladium
1925.00
(+0.44)
All Share
55870.69
(+1.13)
Top 40
51558.75
(+1.25)
Financial 15
10275.29
(+1.87)
Industrial 25
77503.35
(+0.84)
Resource 10
52793.47
(+1.49)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
I'm not really directly affected
18% - 1786 votes
I am taking a hit, but should be able to recover in the next year
23% - 2342 votes
My finances have been devastated
35% - 3504 votes
It's still too early to know what the full effect will be
25% - 2520 votes
Vote