TOKYO, June 27 — Tokyo stocks opened higher today, extending strong rallies on Wall Street, where the weakening economic outlook moderated expectations on central bank monetary tightening.
On Wall Street, the Dow gained 2.7 per cent to 31,500.68, the broad-based S&P 500 added 3.1 per cent, while the tech-rich Nasdaq Composite Index jumped 3.3 per cent. But Rakuten Securities senior strategist Masayuki Kubota shrugged off recession worries, saying it “most likely” will not happen, while US and Japanese share prices have now fallen far enough for bargain-hunting purchases to dominate.
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