Tokyo Stocks Rise in Morning Trade
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TOKYO (AP) _ Tokyo stocks advanced moderately in early trading Monday, despite a central bank report showing Japanese corporate confidence remains weak. The dollar was higher against the yen.
The benchmark 225-issue Nikkei Stock Average gained 81.13 points, or 0.74 percent, to 11,106.07 at the start of trading. On Friday, the average closed down 308.17 points, or 2.72 percent.
The dollar bought 133.16 yen in early trading, up 132.48 yen from late Friday in Tokyo and also above its late New York level of 132.63 yen on Friday.
On the stock market, the Nikkei index jumped even though the Bank of Japan’s quarterly ``tankan″ survey revealed that business sentiment remains at a three-year low.
The broader Tokyo Stock Price Index of all issues listed on the first section was up 4.95 points, or 0.47 percent, to 1,065.14 early Monday. The TOPIX closed down 22.24 points, or 2.05 percent, on Friday.
In currency dealings, the yen weakened against the dollar following the release of the ``tankan.″
In other currencies, the euro was traded at 115.96 yen, up from 115.75 yen late Friday in Tokyo.
The yield on the benchmark 10-year Japanese government bond was unquoted in early trading. On Friday, it settled at 1.4000 percent and its price stood at 100.87.
On the Net:
Tokyo Stock Exchange: http://www.tse.or.jp