Tokyo stocks open higher with eyes on BoJ decision

Tokyo stocks opened higher on Friday, tracking gains on Wall Street, as investors await the Bank of Japan's policy decision later in the day.

The benchmark Nikkei 225 index was up 0.90 percent, or 254.89 points, to 28,712.57 in early trade, while the broader Topix index added 0.90 percent, or 18.20 points, to 2,050.71.

The Bank of Japan (BoJ) concludes its first meeting under new governor Kazuo Ueda during Tokyo trade hours.

"The BoJ is widely expected to hold firm," given Ueda "defended the Bank's current ultra-easy policy stance in front of Parliament earlier this week," National Australia Bank senior analyst said Taylor Nugent in a note.

Traders will be also watching the BoJ's inflation forecasts, which will be released at the same time, he added.

The dollar fetched 133.83 yen in early Asian trade, against 134.02 in New York and 133.81 yen in Tokyo late hours Thursday.

Among major shares in Tokyo, ANA Holdings was up 1.25 percent at 2,921 yen after the airline said it returned to profit in the year to March, rebounding from deep losses due to the pandemic.

Its rival, Japan Airlines, was up 0.71 percent at 2,569 yen.

Sony Group was up 1.07 percent at 12,705 yen ahead of its earnings report due after the closing bell.

Honda was up 1.28 percent at 3,560 yen after reports said the carmaker and battery maker GS Yuasa are planning to jointly invest 400 billion yen ($3 billion) in a new battery plant in Japan.

GS Yuasa was up 3.71 percent at 2,292 yen.

Toyota was up 1.48 percent at 1,852 yen and Nissan was up 1.68 percent at 488.9 yen.