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  • Tokyo stocks opened higher on Wednesday, extending rallies on Wall Street on hopes of economic recovery and advances in coronavirus treatments. The benchmark Nikkei 225 index was up 1.01 percent or 228.24 points at 22,815.25 in early trade, while the broader Topix index gained 0.85 percent or 13.35 points to 1,578.50. Wall Street stocks were back in rally mode Tuesday, shrugging off mixed results from large banks and gaining ground on hopes for more stimulus spending from Washington. "Also supportive of risk was reports of Moderna going ahead with a firm date for phase three trials -- set for July 27," said Tapas Strickland, economist at National Australia Bank, referring to the US biotech firm's announcement it would begin the final stage of human trials for its COVID-19 vaccine candidate. The Chinese trade data released on Tuesday, "which continued the string of upbeat June activity readings," is also contributing to positive sentiment in the market, he added. US stocks had short-lived gains earlier this week following announcements from Pfizer and BioNTech that two of four vaccine candidates for the coronavirus received "Fast Track" designation from the US Food and Drug Administration. The dollar fetched 107.23 yen in early Asian trade, against 107.28 yen in New York on Tuesday. In Tokyo, automakers were among winners, with Honda rallying 2.88 percent to 2,838 yen, Nissan jumping 5.12 percent to 410.3 yen and Toyota trading up 1.14 percent at 6,821 yen. China-linked shares were also higher, with construction machine maker Komatsu trading up 2.19 percent at 2,265.5 yen and industrial robot maker Fanuc jumping 4.62 percent to 21,160 yen. On Wall Street, the Dow Jones Industrial Average jumped 2.1 percent to 26,642.59. kh/sah/hg
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  • Tokyo stocks open higher on hopes of recovery, vaccine
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