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Tokyo stocks opened higher on Wednesday as investors cheered a rise in the tech-heavy Nasdaq index after Nvidia shares closed about 7% higher.
The benchmark Nikkei Stock Average rose 0.40%, or 157.10 points, to 39,330.25 at the open of trading, while the Tokyo Stock Price Index…
Add analyst comments, stock prices and exchange rates
Tokyo stocks opened higher on Wednesday as investors cheered a rise in the tech-heavy Nasdaq index after Nvidia shares closed about 7% higher.
In early trading, the Nikkei Stock Average rose 0.40%, or 157.10 points, to 39,330.25, while the Tokyo Stock Price Index rose 0.08%, or 2.35 points, to 2,789.72.
The dollar rose 159.70% to 159.68 yen in New York trading on Tuesday.
Overnight on Wall Street, the Nasdaq closed up 1.3% after Nvidia surged 6.8%, reversing recent losses.
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“Following the rise in tech stocks in the U.S. market, the Japanese market was expected to open higher as well,” said Toshiyuki Kanayama, senior market analyst at Monex Securities.
The Nikkei Business Daily also noted Nvidia’s rise, reporting that “buying was mainly driven by semiconductor-related stocks.”
The US company last week became briefly the world’s largest listed company with a market capitalization of more than $3.3 trillion.
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Among major stocks in Tokyo, Tokyo Electron rose 1.59% to 34,950 yen, SoftBank Group rose 1.02% to 10,040 yen and Sony Group rose 0.18% to 13,195 yen.
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