Nikkei rises 0.6% in early trade as Wall Street gains lift Japanese shares

The Nikkei Stock Average rose 0.6% to 65,745.13 in early Tokyo trading, tracking gains on Wall Street. The dollar weakened to 158.33 yen from 159.15 yen around Wednesday’s Tokyo close. IG chief technical analyst Axel Rudolph said plans to expand U.S. purchases of long-dated debt calmed investors after a surge in Treasury yields, easing liquidity concerns and signaling officials were prepared to stabilize markets if borrowing costs rose too quickly. Shimano gained 4.9%, Daiichi Sankyo rose 4.82%, Nintendo added 4.7% and Shiseido climbed 4.0%. Earlier market concerns included weakness in semiconductor shares, elevated crude prices and cautious signals from Federal Reserve meeting minutes.

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