Stocks rise in Tokyo on overnight rebound in US, weaker yen
Tokyo stocks opened higher Wednesday after overnight rises in the US market and
as the yen weakened.
The Nikkei 225 Stock Average advanced 184.04 points in morning trading, or 1.42 per cent, to 13,174.62.
The broader Topix index of all first-section issues was also up 17.59 points, or 1.4 per cent, at 1,273.56.
On currency markets at 9 am (0000 GMT), the dollar was quoted at 101.70-75 yen, up from Tuesday's 5 pm quote of 100.92-95 yen. A weaker yen increases the value of Japanese companies' overseas earnings and makes Japanese products cheaper abroad.
The euro was quoted at 1.5785-90 dollars, down from Tuesday's 5 pm quote of 1.5857-60 dollars, and at 160.60-65 yen, up from 160.06-10 yen.