Stocks modestly up in Tokyo on weaker yen

Business Materials 5 August 2008 07:46 (UTC +04:00)

Tokyo stocks opened modestly higher Tuesday as investors bought export-oriented issues on the US dollar's advance against the yen, the dpa reported.

The Nikkei 225 Stock Average gained 34.85 points, or 0.27 per cent, to 12,968.03.

The broader Topix index of all first-section issues was slightly up 0.84 points, or 0.07 per cent, to 1,249.09.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 108.18-23 yen, up from Monday's 5 pm quote of 107.79-80 yen. A weaker yen makes Japanese products cheaper abroad.

The euro was quoted at 1.5562-67 dollars, down from Monday's 5 pm quote of 1.5582-83 dollars, and at 168.42-47 yen, up from 167.96-168.00.