Tokyo stocks opened higher on Tuesday as investors took their cues from Wall Street rallies while awaiting key interest-rate decisions by central bankers this week.
The benchmark Nikkei 225 index was up 0.04 percent, or 14.62 points, at 32,715.56 in early trade, while the broader Topix index added 0.12 percent, or 2.77 points, to 2,283.95.
The dollar fetched 141.55 yen in early Asian trade, little changed from 141.51 yen in New York late Monday.
The Federal Reserve is widely expected to lift interest rates on Wednesday, but the central bank’s statements will be scrutinised for clues on possible additional increases later in the year.
Markets had “fully priced” in a 25-basis-point hike at the meeting, Stephen Innes, managing partner of SPI Asset Management, said in a note.
With signs of US inflation slowing, “many think this could be the last hike of the cycle,” he added.
The European Central Bank and the Bank of Japan will also hold meetings later this week.
Overnight on Wall Street, the Dow finished up 0.5 percent at 35,411.24 as the index won its 11th-straight gain, while the broad-based S&P 500 advanced 0.4 percent and the tech-rich Nasdaq added 0.2 percent.
“The Japanese shares are seen starting with gains following US stocks rallies,” Monex senior market analyst Toshiyuki Kanayama said in a note.
Among major shares in Tokyo, Mitsubishi Motors soared 5.45 percent to 574.5 yen after it said it was considering investment in its larger partner Renault’s EV unit Ampere, which Nissan reportedly will also invest in.
Nissan — Mitsubishi’s largest shareholder — was up 1.67 percent at 634.2 yen. The carmaker will issue its first quarter to June earnings report on Wednesday.
Its rivals Toyota and Honda were moving less than one percent in early trade.
Shipping firm Mitsui O.S.K. Lines was up 0.40 percent at 3,728 yen, Mizuho Financial Group was up 0.68 percent at 2,228.5 yen, and Hitachi was up 0.21 percent at 8,891 yen.