TOKYO shares have opened 0.32 per cent higher, extending their gains despite falls on Wall Street, where investors were disappointed by earnings reports from two blue chip companies.
The Nikkei 225 index at the Tokyo Stock Exchange, which closed at its highest in nearly five years on Wednesday, was up 44.07 points to 13,887.53 at the start on Thursday.
"The market is showing signs of being overheated, but the flip side is that expectations for further growth and the success of 'Abenomics' remain strong," said SMBC Nikko Securities general manager of equities Hiroichi Nishi.
Abenomics refers to Japanese Prime Minister Shinzo Abe's policy of reflating the deflation-plagued economy with aggressive government spending and monetary easing, which has sent the yen tumbling and boosted stock prices.
In New York on Wednesday, sharp earnings-related falls in AT&T and Procter & Gamble pulled the Dow lower while the other main indices closed flat.
The Dow Jones Industrial Average dropped 43.16 points (0.29 per cent) to 14,676.30. The broad-based S&P 500 was essentially flat at 1,578.79, while the Nasdaq Composite Index added 0.32 (0.01 per cent) to 3,269.65.
The US dollar dipped slightly against most other major currencies on Wednesday after a government report showed a plunge in US durable goods orders in March.
The greenback was at Y99.47 in early Asian trade on Thursday against Y99.51 in New York on Wednesday afternoon.
The euro bought $US1.3014 and Y129.46, almost flat from New York.
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