TOKYO, Feb 16 ― Tokyo stocks opened higher today extending Wall Street rallies on easing fears of an imminent Russian invasion of Ukraine.
“After gains in early trade with support from US stocks rallies, the focus will be on whether the Nikkei index could surpass the 27,500 level,” senior market analyst Toshiyuki Kanayama of Monex said in a note. Wall Street stocks cheered Russia's more conciliatory posture on Ukraine, rallying after three straight negative sessions.
Western leaders applauded the statement, but called for verification. US President Joe Biden said that a Russian attack on Ukraine remains “very much” a possibility, but that a diplomatic solution to the crisis could yet be reached.Among major shares in Tokyo, Sony Group rallied 1.15 per cent to ¥12,350 after announcing the capital expenditure on a joint plant with Taiwan Semiconductor Manufacturing will rise by over¥100 billion to US$8.6 billion.