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Today, Tokyo stocks reversed previous losses, emerged above water, and were hiked aggressively by the European Central Bank.
The benchmark Nikkei 225 index opened in the negative but soon gained 0.18 per cent, or 48.98 points, to 27,851.98, while the broader Topix index also trimmed losses and was down 0.03 per cent, or 0.68 points, to 1,949.91.
“The mood among investors was generally buoyant after Wall Street advanced overnight, boosted by strong earnings from bellwether companies like Tesla,” analysts said.
“But many uncertain factors are lurking on the horizon to make the trading top-heavy,” Okasan Online Securities said.
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Meanwhile, a larger-than-expected rate hike from the European Central Bank (ECB) on Thursday “stoked worries about an economic deceleration in Europe,” Okasan said.
Investors are awaiting the release of fresh purchasing managers’ index data in Europe and the United States later on Friday that “could shift the tone of the market and create a mood where investors can no longer cheer higher stocks on falls of US yields”, Okasan said.
