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- Meta AI turns pictures into videos with sound
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- Top EU court finds against FIFA in key transfer market ruling
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- 'A man provides': Ukrainian miners send families away as Russia advances
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- Phasing out teen smoking could save 1.2 mn lives: study
- 'Welcome relief': Asia producers hail EU deforestation law delay
- Japan PM slated to announce plans for 'happiness index'
- Turkish inflation falls less than expected in September at 49.4%
- Easing inflation lifts profit at UK supermarket Tesco
- Skiing calls on UN climate science to combat melting future
- China wine industry looks to breed climate resilience
- Tokyo rallies on weak yen, Hong Kong drops after surge
- Dutch airline KLM unveils 'firm' cost-cutting measures
- Carpe diem: the Costa Rican women turning fish into fashion
- Senegal looks to aquaculture as fish stocks dwindle
- Will AI one day win a Nobel Prize?
- Climate change, economics muddy West's drive to curb Chinese EVs
- Argentina's Milei vetoes university budget after huge protests
- TotalEnergies plans to grow oil and gas production until 2030
- 2024 Nobels offer glimmer of hope as global crises mount
- Tokyo rallies on weak yen, Hong Kong reverses after surge
- Tunisia readies for vote as incumbent Saied eyes victory
- High childcare costs in US weigh on women's employment
- US voters seek help with crushing childcare costs
- Taiwan shuts down for second day as Typhoon Krathon to land
Tokyo stocks open higher tracking US gains
Tokyo stocks opened higher on Tuesday, tracking gains on Wall Street, as investors priced in the expectation of further interest rate hikes to tame inflation.
The benchmark Nikkei 225 index was up 0.14 percent, or 40.60 points, at 28,582.71 in early trade, while the broader Topix index was up 0.15 percent, or 2.96 points, at 1,983.18.
"Investors felt encouraged to buy Japan stocks by rallies in the US market, but a wait-and-see attitude may emerge in later trade ahead of the release of the US consumer price index," Mizuho Securities said in a commentary.
Wall Street stocks ended with solid gains, continuing an upswing that snapped a three-week losing streak.
Investors are looking ahead to a critical release Tuesday on US consumer prices, followed by Thursday's report on retail sales -- the last major data ahead of the Federal Reserve's interest rate move next week.
While inflation is expected to have eased in August, largely due to falling gasoline prices, it seems unlikely it will be enough to stave off a third consecutive three-quarter point rate hike from the Fed.
However, National Australia Bank analyst Tapas Strickland believes that "there appears to be a growing consensus that inflation has peaked in the US".
The dollar fetched 142.62 yen in early Asian trade, against 142.82 yen in New York late Monday.
Among individual equities, game giant Nintendo soared 5.11 percent to 61,970 yen after it said domestic sales of its Splatoon 3 game for Nintendo Switch consoles surpassed 3.45 million in the three days since its September 9 launch.
That marks the best domestic sales level for any Switch software in the three days after launch, Nintendo said.
Sony Group barely moved after it said its music business has fully withdrawn from Russia, trading up just 0.04 percent at 10,765 yen about 40 minutes after the opening bell.
"As the war continues to have a devastating humanitarian impact in Ukraine, and sanctions on Russia continue to increase, we can no longer maintain a presence in Russia, effective immediately," the company said in a statement sent to AFP.
Automaker Nissan was down 1.34 percent at 545.5 yen after it said Monday night that it would extend by three months a halt to production at its Saint Petersburg plant in Russia.
The decision means production will be on hold until the end of December, with the firm citing ongoing logistical difficulties for the move.
Airlines continued to rally following reports the Japanese government could significantly loosen Covid-linked border controls, with ANA Holdings trading up 2.83 percent at 2,778.5 and Japan Airlines up 2.04 percent at 2,653 yen.
Toyota was down 0.82 percent at 2,053 yen and Honda was off 2.02 percent at 3,639 yen, after a brokerage firm downgraded its estimate of the shares' performances.
M.Anderson--CPN