Tokyo: Stocks open higher

[TOKYO] Tokyo stocks opened higher on Friday with investors heartened by rallies in US shares but eyeing Chinese economic indicators due later in the day.

The benchmark Nikkei 225 index was up 1.15 per cent or 229.98 points at 20,144.76 in early trade, while the broader Topix index edged up 0.86 per cent or 12.50 points to 1,459.05.

"The Japanese market is supported by US rallies, while China's industrial production and retail sales due at 11am (2am GMT) are in focus," Toshiyuki Kanayama, senior market analyst at Monex, said in a commentary.

The dollar fetched 107.37 yen in early Asian trade, against 107.27 yen in New York.

In Tokyo, blue-chip exporters were higher with Sony rallying 1.83 per cent to 6,918 yen, Toyota trading up 1.11 per cent at 6,312 yen, and chip-making equipment maker Tokyo Electron up 3.15 per cent at 22,770 yen.

Wall Street stocks finished higher Thursday as beaten-down banking shares rallied, while another spike in jobless claims was better than market expectations.

In New York, the Dow ended up 1.6 per cent at 23,625.34.

AFP