TOKYO: Japanese stocks were higher on Tuesday morning led by the telecom sector but gains were capped as investors remained cautious before key events expected through this week until month-end.
KDDI Corp soared 5.8 per cent and contributed a hefty positive 36 points to the Nikkei benchmark after Deutsche Securities hiked its rating to ‘buy’ from ‘hold’, saying that the stock is oversold after dropping 20 per cent from its August peak.
Interest in KDDI appeared to spillover to rival NTT Docomo Inc, which rose 3.0 per cent.
The Nikkei gained 0.4 per cent to 18,209.65 in midmorning trade after shedding 0.9 per cent on Monday.
