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  • Tokyo stocks opened higher on Monday helped by rallies on Wall Street with a higher yen against the dollar capping the upside. The benchmark Nikkei 225 index was up 1.20 percent or 274.50 at 23,157.15 in early trade, while the broader Topix index advanced 1.16 percent or 18.68 points at 1,623.55. "Japanese shares are seen supported by rallies in US stocks but a higher yen against the dollar is weighing on the market," Yoshihiro Ito, chief strategist at Okasan Online Securities, said in a commentary. Investors are closely watching political developments after Japanese Prime Minister Shinzo Abe announced his resignation last week, but no major confusion is expected with reports saying his right-hand man Yoshihide Suga is set to stand as the presumptive frontrunner, analysts said. The dollar fetched 105.45 yen in early Asian trade, against 105.34 yen in New York late Friday. Among major shares in Tokyo, Toyota was up 0.72 percent at 7,107 yen and Sony was up 0.87 percent at 8,52 yen. Trading houses rallied after US investor Warren Buffett's Berkshire Hathaway said it has bought slightly more than five percent stakes in each of Japan's five leading trading companies. Mitsubishi Corp soared 8.81 percent to 2,538 yen, Mitsui & Co climbed 7.43 percent to 1,915.5 yen, and Sumitomo Corp rallied 9.84 percent to 1,385 yen. On Wall Street, the Dow ended up 0.6 percent at 28,653.87 points. kh/sah/axn
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  • Tokyo stocks open higher on US rallies
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