Tokyo stocks rise after Shanghai says will reopen some businesses

Tokyo stocks opened sharply higher Monday, reflecting improved investor sentiment a day after Shanghai officials said the Chinese commercial hub will gradually allow some businesses to reopen following weeks of strict COVID-19 lockdown.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 320.61 points, or 1.21 percent, from Friday to 26,748.26. The broader Topix index was up 13.21 points, or 0.71 percent, at 1,877.41.

On the top-tier Prime Market, gainers were led by marine transportation, service, and warehousing and harbor transportation service issues.

At 9 a.m., the dollar fetched 129.40-43 yen compared with 129.16-26 yen in New York and 128.80-81 yen in Tokyo at 5 p.m. Friday.

The euro was quoted at $1.0399-0400 and 134.54-62 yen against $1.0407-0417 and 134.47-57 yen in New York and $1.0414-0416 and 134.14-18 yen in Tokyo late Friday afternoon.

© Kyodo News