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  • Tokyo stocks opened higher on Monday as a relatively cheaper yen against the dollar supported the market even as investors warily watched the spread of the coronavirus. The benchmark Nikkei 225 index was up 1.57 percent or 260.60 points at 16,813.43 in early trade, while the broader Topix index was up 0.61 percent or 7.77 points at 1,290.99. "Japanese shares are supported by a cheaper yen despite falls in the US," Yoshihiro Ito, chief strategist at Okasan Online Securities, said in a commentary. However, trade would remain volatile throughout the day amid concerns over the new coronavirus, analysts said. Investors were also worried about the impact on the Japanese economy of a potential postponement of the 2020 Tokyo Summer Olympics, after the International Olympic Committee said delaying the Games was one of its options, Daiwa Securities said in a commentary. The dollar fetched 110.40 yen in early Asian trade, against 110.85 yen in New York. In Tokyo, China-linked shares were higher, with industrial robot maker Fanuc soaring 6.51 percent to 12,925 yen, parts maker Rohm trading up 1.13 percent at 5,340 yen, and construction machine maker Komatsu up 5.19 percent at 1,588.5 yen. Automakers were lower, with Toyota dropping 3.12 percent to 6,195 yen and Honda down 1.60 percent to 2,232.5 yen. On Wall Street, the Dow ended down 4.6 percent at 19,173.98. kh/sah/jah
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  • Tokyo stocks open higher supported by cheaper yen
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