Advertisement
Australia markets closed
  • ALL ORDS

    8,153.70
    +80.10 (+0.99%)
     
  • ASX 200

    7,896.90
    +77.30 (+0.99%)
     
  • AUD/USD

    0.6517
    -0.0019 (-0.29%)
     
  • OIL

    82.45
    +1.10 (+1.35%)
     
  • GOLD

    2,233.30
    +20.60 (+0.93%)
     
  • Bitcoin AUD

    109,746.55
    +2,336.42 (+2.18%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • AUD/EUR

    0.6035
    +0.0004 (+0.07%)
     
  • AUD/NZD

    1.0899
    +0.0019 (+0.18%)
     
  • NZX 50

    12,105.29
    +94.63 (+0.79%)
     
  • NASDAQ

    18,276.53
    -4.31 (-0.02%)
     
  • FTSE

    7,967.56
    +35.58 (+0.45%)
     
  • Dow Jones

    39,759.72
    -0.36 (-0.00%)
     
  • DAX

    18,495.68
    +18.59 (+0.10%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     

Tokyo shares edge up in early trade

Tokyo shares edged up Tuesday after world markets rallied on first-round French election results

Tokyo shares edged up Tuesday after world markets rallied on first-round French election results, but gains were capped by tensions over North Korea as it marks a key military anniversary.

Global bourses rose Monday, with the Nasdaq rising 1.2 percent to a new record at 5,983.82, while the Dow Jones Industrial Average and S&P 500 both rose 1.1 percent.

A clearer outlook for the second round of the French election was cheering investors, said Okasan Online Securities in a note to clients.

"A rebound was likely for the time being (in Tokyo) as the sense of uncertainty has been significantly reduced regarding the French presidential election -- the biggest risk event in the first half of this year -- as it now seems more likely to come to pass with no surprises," Okasan said.

ADVERTISEMENT

Centrist candidate Emmanuel Macron decisively led anti-EU, anti-immigration candidate Marine Le Pen, leader of the National Front party after first round of voting Sunday.

The second round will be held on May 7.

But North Korean risk was keeping a lid on sentiment, Japan Asia Securities' equity strategist Mitsuo Shimizu told Bloomberg News.

"There is a strong sense of caution in the market," Shimizu said.

If North Korea stays quiet, however, the Tokyo market could react with a healthy rebound, he added.

North Korea on Tuesday marks the 85th anniversary of the founding of its military amid continued worries it could carry out a fresh nuclear test anytime.

Tokyo's benchmark Nikkei 225 index hovered just above the previous day's close, edging up 0.31 percent or 58.43 points to 18,934.31 in early trading. The Topix index of all first-section issues added 0.36 percent, or 5.46 points to 1,508.65.

The Nikkei rose 1.37 percent on Monday and the Topix gained 0.98 percent on optimism over the French election results.

NEC surged 3.83 percent to 271 yen after it upgraded its earnings forecast for the previous year to March 2017.

Toyota added 0.59 percent to 5,922 yen, while Mitsubishi UFJ Financial Group rose 1.53 percent to 698.5 yen.

In currencies, the dollar was at 109.77 yen, holding steady from 109.78 yen in New York.