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  • Tokyo stocks opened higher Thursday following gains on Wall Street, as traders were buoyed by the prospect of a state of emergency being lifted in western Japan later in the day. The benchmark Nikkei 225 index was up 0.53 percent or 109.39 points at 20,704.54 in early trade, while the broader Topix index edged up 0.27 percent or 3.98 points to 1,498.67. "Japanese shares are seen testing the upside supported by rallies in US stocks, while hopes are growing as the government is expected to lift the state of emergency for Osaka, Kyoto and Hyogo later today," said Okasan Online Securities. Japan last week lifted a state of emergency imposed due to the coronavirus for the majority of the country but kept it in place for top cities Tokyo and Osaka. Later Thursday, Prime Minister Shinzo Abe's government is expected to lift the state of emergency for Osaka and neighbouring regions Kyoto and Hyogo. While there was a general feeling in the global market the worst of the pandemic has passed, rising China-US tensions continue to cast a shadow over trading floors, along with growing signs of a looming economic catastrophe. According to data released before the opening bell, Japan booked a trade deficit of 930.4 billion yen ($8.7 billion) in April, with exports dropping 21.9 percent and imports down 7.2 percent year-on-year. The dollar traded at 107.66 yen in Asian trade, against 107.55 yen in New York late Thursday. In Tokyo, blue-chip exporters were generally stronger, with Sony trading up 1.14 percent at 6,824 yen, Panasonic climbing 1.25 percent at 892.6 yen, and parts maker Murata Manufacturing rising 1.09 percent at 6,130 yen. On Wall Street, the Dow ended up 1.5 percent at 24,575.90. kh/ric/rma
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  • Tokyo stocks open higher on coronavirus hopes
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