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  • Tokyo stocks opened higher on Wednesday extending rallies on Wall Street on optimism over potential coronavirus vaccines and revived stimulus talks in the US Congress. The benchmark Nikkei 225 index gained 0.26 percent or 68.89 points to 26,856.43 in early trade, while the broader Topix index was up 0.42 percent or 7.43 points at 1,775.81. "Japanese shares are supported by rallies in the US market, with focus on whether Tokyo shares will rise further amid a sense of overheating," said senior market analyst Toshiyuki Kanayama of Monex. Investors were also awaiting US Federal Reserve chair Jerome Powell's testimony before the House and the release of the Fed's Beige Book later in the day for any clues on the US and global economy, said Tapas Strickland, senior analyst at National Australia Bank. Tokyo's rallies came after major US stock indices closed at records again, as the European Medicines Agency said it would hold an extraordinary meeting on December 29, "at the latest," to consider emergency approval for a vaccine developed by Germany's BioNTech and US giant Pfizer. The announcement further advances the timeframe to finally bring under control a pandemic that has dragged on the global economy. Markets also were cheered by the revival of efforts on Capitol Hill to enact a fiscal package to support the coronavirus-ravaged economy. The dollar fetched 104.31 yen in Asian trade, against 104.32 yen in New York late Tuesday. Among major shares in Tokyo, some automakers were higher, with Toyota trading up 1.05 percent at 7,092 yen and Honda up 3.28 percent at 2,994.5 yen. Airlines were mixed, with ANA Holdings edging up 0.97 percent to 2,506 yen while Japan Airlines was trading down 0.40 percent at 1,998 yen. Some other exporters were higher, with Hitachi rallying 1.34 percent to 4,020 yen, Japan Steel trading up 1.11 percent at 1,318 yen and Canon up 2.75 percent at 1,922 yen. On Wall Street, the Dow ended up 0.6 percent at 29,823.92. kh/sah/hg
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  • Tokyo stocks open higher on vaccine, stimulus hopes
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