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Tokyo stocks open higher in thin trade

Tokyo stocks opened higher on Friday but trading was lacklustre with the absence of fresh market-moving events as the US market was closed for the Thanksgiving holiday.

The benchmark Nikkei 225 index was up 0.29 percent, or 67.99 points, at 23,477.13 in early trade, while the broader Topix index edged up 0.19 percent, or 3.28 points, to 1,711.34.

"The Japanese market today lacks a sense of direction after the US market was closed and without fresh news to trade," Okasan Online Securities said in a commentary.

Investors remained cautious about developments in the US-China trade talks, it said.

The dollar fetched 109.53 yen in early trade, against 109.52 yen in London.

Among major shares in Tokyo, China-linked shares were higher with electronic parts maker Rohm gaining 0.64 percent to 9,340 yen and industrial robot maker Fanuc advancing 1.10 percent to 21,055 yen.

Panasonic was up 2.22 percent at 1,031.5 yen. After the closing bell on Thursday, the electronics giant announced it was exiting the semiconductor business, selling its loss-making subsidiary to a Taiwanese firm.

Rival Sony was also up 1.40 percent at 6,994 yen.

Investors shrugged off a set of Japanese indicators released before the opening.

Japan's factory output dropped 4.2 percent month-on-month in October, worse than market expectations of a 2.0 percent decline, according to trade ministry data issued 10 minutes before the opening bell.

A steep drop in output from the auto industry had a major impact on the overall decline, as powerful typhoon Hagibis affected the procurement of car parts, the ministry said.

Japan's unemployment rate in October stood at 2.4 percent, in line with market expectations, according to separate data issued by the internal affairs ministry.

Looking ahead, investors were closely watching the euro-zone CPI in November, due later in the day, and China's manufacturing PMI data due on Saturday, Mizuho Securities said in a client note.

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