Tokyo stocks up on US car rescue plan
Stocks in Tokyo opened stronger on Monday after the United States announced to guarantee emergency loans to ailing US automakers, dpa reported.
Buoyed also by a weaker yen, the benchmark Nikkei 225 Stock Average was up 121.9 points, or 1.42 per cent, to 8,710.42.
The broader Topix index of all first-section issues climbed by 12.77 points, 0r 1.53 per cent, to 847.2.
On Friday, US President George W Bush agreed to a 17.4-billion- dollar emergency loan to keep the iconic US car industry alive, granting General Motors Corp and Chrysler LLC a breathing space until March 31.
On currency markets at 9 am (0000 GMT), the dollar was quoted at 89.52-57 yen, up from Friday's 5 pm quote of 88.92-94 yen.
The euro was quoted at 1.3970-75 dollars, down from 1.4270-72 dollars , and at 125.05-10 yen, compared to 126.89-93 late Friday.