Tokyo stocks open higher on bargain-hunting
( dpa )- Tokyo stocks recovered from a four-day losing streak to open Thursday trading higher as investors bought battered shares.
The Nikkei 225 Stock Average index gained 152.44 points, or 1.13 per cent, to 13,656.95.
The broader Topix index of all first-section issues also rose 12.13 points, or 0.93 per cent, to 1,314.50.
Tokyo indices lost more than 3 per cent Wednesday on concerns over a possible recession in the United States, sending the key Nikkei average to a two-year low.
Export-dependent auto issues such as Toyota Motor and Honda Motor, and high-tech shares including Sony and Sharp recovered from losses, thanks to a weaker yen. A weaker yen makes Japanese products cheaper abroad.
On currency markets at 9 am (0000 GMT), the dollar was quoted at 107.33-38 yen, up from Wednesday's 5 pm quote of 106.28-31 yen.
The euro was quoted at 1.4660-65 dollars, down from Wednesday's 5 pm quote of 1.4822-25 dollars, and at 157.35-40 yen, down from 157.56-60 yen.