Tuesday May 13, 01:46 AM
Tokyo shares open higher, tracking Wall Street's gains
TOKYO (Thomson Financial) - Japanese shares opened higher on Tuesday following overnight gains on Wall Street after oil prices fell back and helped ease investor worries about inflation.
Local sentiment was also supported by Wall Street's positive reaction to the announcement by HSBC Holdings (0005.HK - news) that its first-quarter profits were up from a year ago, although the global banking company took a $3.2 billion write-down on subprime mortgage assets in the United States.
Overnight, the Dow Jones industrial Average closed up 130 .43 points or 1 percent at 12,876.31.
At 9:15 a.m. (0015 GMT), the Nikkei (news) 225 Stock Average was up 50.88 points or 0.4 percent at 13,794.24. The index opened with a gain of 71.03 points or 0.5 percent.
The broader Topix rose 8.46 points or 0.6 percent to 1,351.25.
($1 = 103.86 yen)
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