Tokyo Stocks Climb
TOKYO (AP) _ Tokyo stocks climbed early Thursday, bolstered by Wall Street’s rally. The dollar was higher against the yen.
The benchmark 225-issue Nikkei Stock Average rose 117.05 points, or 1.09 percent, to 10,830.86 at the open. On Wednesday, the average closed up 261.16 points, or 2.50 percent.
The dollar bought 124.20 yen in early trading, up 0.08 yen from late Wednesday in Tokyo but below its late New York level of 124.25 yen.
On the stock market, investors were cheered after U.S. stocks finished sharply higher on the back of stronger U.S. technology issues.
In New York, the Dow Jones industrial average surged 220.45 to 10,114.29 at Wednesday’s close. The Nasdaq composite index finished at 2,046.84, up 83.74.
The broader Tokyo Stock Price Index of all issues listed on the first section was up 10.19 points, or 0.97 percent, to 1,057.53 early Thursday. The TOPIX closed up 18.84 points, or 1.83 percent, the day before.
In currencies, the dollar was higher against the yen following the greenback’s strength in New York overnight
On Wednesday, the dollar gained ground with the release of a survey of service-sector businesses in the United States showing optimism over the U.S. economy.
The euro was traded at 110.12 yen, down from 110.79 yen late Wednesday in Tokyo.
The yield on the benchmark 10-year Japanese government bond rose to 1.3900 percent from Wednesday’s finish of 1.3750 percent. Its price fell 0.13 point to 100.08.
On the Net:
Tokyo Stock Exchange: http://www.tse.or.jp