Tokyo stocks open higher despite losses on Wall Street

Tokyo shares opened higher Thursday, despite losses on Wall Street after a Federal Reserve report pointed to ebbing corporate optimism in the US. (AFP Photo/Kazuhiro NOGI) (AFP)

Tokyo shares opened higher Thursday, despite losses on Wall Street after a Federal Reserve report pointed to ebbing corporate optimism in the US.

The Fed's "beige book" said uncertainty about trade and other government policies were weighing on sentiment in some regions.

Despite the losses on Wall Street, Tokyo's benchmark index rose in early trading, breaking a four-day streak of decline.

The key Nikkei 225 index rose 0.34 percent, or 67.18 points, to 19,717.75, while the Topix index of all first-section shares gained 0.33 percent, or 5.19 points, to sit at 1,573.56.

"There are good stories and bad stories out there for investors," Toshihiko Matsuno, chief strategist at SMBC Friend Securities, told AFP.

"But the market is largely welcoming the upbeat business investment data," he said.

Shortly before the opening bell on Thursday, government data showed that capital spending by Japanese firms rose 4.5 percent year-on-year during the three months to March.

In share trading, Toyota rose 0.82 percent at 5,981 yen and Canon up 2.77 percent at 3,885 yen after announcing plans for a share buyback.

But oil shares fell, with Japex down 0.17 percent at 2,226 yen and Inpex off 1.08 percent at 1,007.5 yen.

In forex trading, the dollar bought 110.85 yen against 110.75 yen in New York.