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Tokyo stocks open higher

·1-min read

Tokyo stocks opened higher on Tuesday as investors bought on dips while awaiting growth outlooks from the upcoming corporate earnings season.

The benchmark Nikkei 225 index was up 0.22 percent, or 65.71 points, at 29,604.44 in early trade, while the broader Topix index rose 0.16 percent, or 3.03 points, to 1,957.62.

"Investors are chasing shares that have fallen recently," said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.

Wall Street stocks slipped on Monday, edging down from records.

"But the decline in New York was within expectations," Horiuchi told AFP, adding that investors will watch key US data this week, including consumer prices as well as March retail sales and housing starts data.

"The market is expected to remain in wait-and-see mode for now ahead of the corporate results season," he added.

The dollar stood at 109.47 yen, compared with 109.37 yen on Monday in New York.

Tokyo Electric Power jumped 1.40 percent to 360 yen in early trade after the government made the controversial decision to release treated water into the sea from the stricken Fukushima nuclear plant.

Uniqlo operator Fast Retailing rallied 2.02 percent to 89,080 yen on bargain-hunting after facing selling pressure over accusations it profited from forced labour of the Uyghur minority in China, which it denies.