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  • Tokyo stocks opened higher on Tuesday as worries over the spread of the novel coronavirus receded with G7 financial and central bank chiefs set to hold talks on the issue. The benchmark Nikkei 225 index rose 1.20 percent or 256.66 points to 21,600.74 in early trade, while the broader Topix index was up 1.25 percent or 19.00 points at 1,544.87. "Expectations on international cooperation over the new coronavirus prompted rallies in US shares, and Japanese shares are seen extending the upward trend," Toshiyuki Kanayama, senior market analyst at Monex, said in a commentary. The dollar fetched 109.38 yen in early Asian trade, against 108.25 yen in New York late Monday. Finance ministers and central bank chiefs from Group of Seven (G7) countries will hold talks Tuesday amid rising global uncertainty over the coronavirus epidemic, the US Treasury said Monday. US Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell "will lead a call with their G7 counterparts tomorrow morning," the department confirmed in a statement. Top finance officials in Europe also tried to calm fears about a damaging economic downturn as a result of the epidemic, as did the continent's central bank. In Tokyo, some blue-chip exporters were higher, with Toyota gaining 1.11 percent to 7,234 yen and Sony rallying 0.77 percent to 6,924 yen. Honda was up 1.60 percent at 2,841.5 yen despite a report that it will reduce production in its two domestic plants for several days on concerns over the stability of parts supply from China. In New York, the Dow ended up 5.1 percent at 26,703.32. kh/sah/hg
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  • Tokyo stocks open higher on hopes of G7 virus actions
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