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Tokyo: Shares end marginally higher ahead of US data
[TOKYO] Tokyo shares closed marginally higher on Thursday ahead of the release of key US economic data later in the day.
The benchmark Nikkei 225 index, which opened lower trailing falls on Wall Street, edged up 0.09 per cent, or 19.46 points, to end at 21,540.99, while the broader Topix index rose 0.14 per cent, or 2.21 points, to 1,567.35.
"Tokyo shares opened lower following overnight falls on Wall Street, but the losses gradually shrank thanks to the yen, which weakened," Okasan Online Securities said in a note.
The dollar stood at 109.25 yen, rising from 108.77 yen in New York.
Investors are awaiting key US economic data, including ISM's nationwide manufacturing index, which will be announced later in the day, and Friday's employment data.
In the morning session, Tokyo players took cues from the New York market, where investors pushed down shares after hearing Fed Chairman Jerome Powell's cautious position about future rate cuts.
Carmakers were gainers with Toyota rising 0.96 per cent to 7,092 yen and Honda 0.44 per cent to 2,722.5 yen.
Takeda Pharmaceutical soared 7.40 per cent to 3,904 yen a day after forecasting net losses for the year ending in March 2020 would shrink thanks to the growth of its blood cancer treatment.
SoftBank Group rose 1.15 per cent to 5,693 yen, while Sony fell 0.76 per cent to 6,123 yen.
Panasonic dropped 1.49 per cent to 910.9 yen.