TOKYO, Jan 27 ― Tokyo stocks opened higher in cautious trade today following a mixed close on Wall Street after Fed Chair Jerome Powell signalled an interest rate hike is likely in March.
Wall Street stocks had been in positive territory yesterday heading into Powell's speech at the conclusion of a two-day policy meeting, but then stumbled with the Dow Jones Industrial Average dropping 0.4 percent to 34,168.09.Powell's comments cemented the US central bank's policy pivot towards fighting inflation, setting up an end to the era of easy money that fuelled Wall Street's record-setting run during the pandemic.
In Tokyo, Toyota was up 1.06 per cent at ¥2,245 , while Sony Group was down 3.49 per cent at ¥12,180.
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