Tokyo: Stocks open up more than 3% on Friday

[TOKYO] Tokyo stocks opened more than three per cent higher on Friday, tracking rallies on Wall Street on a massive US economic relief package.

The benchmark Nikkei 225 index jumped 3.42 per cent or 639.04 points to 19,303.64 in early trade, while the broader Topix index was up 3.08 per cent or 43.14 points at 1,442.46.

"Japanese shares are seen testing the rebound trend, encouraged by surges in US shares," Yoshihiro Ito, chief strategist at Okasan Online Securities, said in a commentary.

The Japanese government's plans to fire additional stimulus to counter the impact from the new coronavirus would provide further relief to investors, he added.

In the US, the Dow surged for a third straight session after the economic relief package cleared the Senate and data showed an unprecedented spike in unemployment claims.

The Dow finished up more than 1,350 points, or 6.4 per cent, at 22,523.15.

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The dollar fetched 109.13 yen in early Asian trade, against 109.44 yen in New York on Thursday.

AFP