The Tokyo stock market rose and the yen depreciated again.

The Tokyo stock market rose and the yen depreciated again.



The Tokyo stock market opened higher on Friday as U.S. tech stocks rose while the yen weakened against the dollar.

The benchmark Nikkei 225 index rose 0.65%, or 257.37 points, to 39,700.00 in early trade, while the broader Topix index rose 0.50%, or 13.77 points, to 2,760.73.

Toshiyuki Kanayama, senior market analyst at Monex Securities, said, “Japanese markets are expected to open higher, driven by gains in U.S. tech stocks.''

The dollar traded at 153.13 yen in early Asian trading, compared with 153.25 yen in New York. The dollar earlier hit 153.33 yen, another Japanese currency in 34 years, after higher-than-expected U.S. inflation hit hopes of a June interest rate cut by the U.S. Federal Reserve. Low price.

Overnight, the blue-chip Dow ended flat, the broad-based S&P 500 rose 0.7% and the tech-heavy Nasdaq Composite index rose 1.7%.

In Tokyo, Fast Retailing fell 4.06% to 42,310 yen after second-quarter operating profit fell below analysts' expectations.

Fujifilm rose 2.64% to 3,462 yen after announcing an additional $1.2 billion investment in a planned biotechnology factory in North Carolina.

Real estate companies rose, with Mitsui Fudosan rising 6.53% to 1,655 yen and Sumitomo Real Estate rising 6.04% to 5,947 yen.

Sony Group rose 1.52% to 13,050 yen. Chip testing equipment maker Advantest rose 0.89% to 6,018 yen.

Source: guardian.ng

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