Tokyo stocks open higher after Wall St rallies

Shanghai markets
Shanghai markets
owngarden/getty

Tokyo stocks opened higher on Tuesday, extending rallies on Wall Street, where high-tech shares led the gains.

The benchmark Nikkei 225 index was up 0.34%, or 81.01 points, at 23 639.70 in early trade, while the broader Topix index edged up 0.39% to 1 649.84.

"Japanese shares are testing a rebound, helped by rallies in US shares, but the dollar-yen rate of ¥105.00 to ¥105.50 is capping the upside," Okasan Online Securities chief strategist Yoshihiro Ito said in a commentary.

Investors were keenly awaiting corporate earnings results due from later this month, analysts said.

The dollar fetched ¥105.37 in early Asian trade, against ¥105.32 in New York late Monday.

Among major shares in Tokyo, Sony was up 1.53% at ¥7 887, Canon was up 2.16% at ¥1 706, carmaker Mazda rose 2.15% to ¥617 and industrial robot maker Fanuc rallied 3.51% to ¥20 780.

On Wall Street, the Dow ended up 0.9% at 28 837.52 while the tech-rich Nasdaq rallied 2.6% and the broader S&P 500 gained 1.6%.

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