Tokyo Stocks Rise, Dollar Higher
TOKYO (AP) _ Tokyo stocks rose moderately in early trading Thursday as a rally on Wall Street supported investor sentiment. The dollar was higher against the yen.
The benchmark 225-issue Nikkei Stock Average gained 72.80 points, or 0.65 percent, to 11,291.38 after opening. On Wednesday, the average closed up 104.09 points, or 0.94 percent.
The dollar bought 130.86 yen in early trading, up 0.44 yen from late Wednesday and also above its late New York level of 130.66 yen.
On the stock market, the Nikkei index’s advance came on the heels of Wednesday’s gains on Wall Street, where an upbeat earnings outlook from retailer Sears and Roebuck helped spur investment.
In New York, the Dow Jones industrial average climbed 173.06 to 10,381.73 at Wednesday’s close. The Nasdaq composite index closed at 1,767.07, up 24.50.
The broader Tokyo Stock Price Index of all issues listed on the first section was up 6.76 points, or 0.63 percent, to 1,084.85 early Thursday. The TOPIX closed up 6.43 points, or 0.60 percent, the day before.
In currency dealings, the dollar edged higher against the yen as some investors snapped up a cheaper U.S. currency that had declined in recent sessions.
In other currencies, the euro was traded at 115.10 yen, up from 115.03 yen late Wednesday in Tokyo.
The yield on the benchmark 10-year Japanese government bond was unquoted in early trading. On Wednesday, it settled at 1.3750 percent and its price stood at 101.09.
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Tokyo Stock Exchange: http://www.tse.or.jp