TOKYO: Tokyo shares opened 1.65 percent higher on Thursday echoing a Wall Street rally sparked by hints that the Federal Reserve would not raise interest rates following days of market turmoil caused by concerns over the Chinese economy.
The Nikkei-225 index at the Tokyo Stock Exchange opened 303.64 points higher at 18,680.47.
The bounce came after Wall Street ended a six-day losing streak, with the Dow adding 3.95 percent, the S&P 500 closing up 3.90 percent and the Nasdaq gaining 4.24 percent.
The rebound followed comments by William Dudley, the head of the New York branch of the Fed and one of the most influential members of its monetary policy board, who said the case for a long-awaited rate hike in September had weakened.
But worries that a slowdown in China, the world’s second-largest economy, could stall world growth still haunted the market even after another rate cut.
Widespread concerns remained over whether Beijing is doing enough to calm the markets and sustain economic activity at the current level, despite the injection of hundreds of billions of yuan into markets to support stocks and the currency itself.
On currency markets, the dollar stood at 119.94 yen, little changed from 119.98 yen in New York Wednesday.
