Tokyo stocks open sharply higher as weak yen boosts exporters

Tokyo stocks opened sharply higher Wednesday, with the Nikkei index rising over 2 percent, as the yen's decline to a one-year low in the 151 level against the U.S. dollar spurred buying of export-related issues.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 638.33 points, or 2.07 percent, from Tuesday to 31,497.18. The broader Topix index was up 44.92 points, or 1.99 percent, at 2,298.64.

On the top-tier Prime Market, gainers were led by transportation equipment, electric appliance and securities house issues.

The dollar hit a one-year high of 151.74 yen in New York overnight, as the Bank of Japan's adjustments to its yield curve control measures Tuesday were seen as a minor change to its ultraeasy monetary policy.

At 9 a.m., the dollar fetched 151.32-33 yen compared with 151.69-79 yen in New York and 150.28-30 yen in Tokyo at 5 p.m. Tuesday.

The euro was quoted at $1.0578-0579 and 160.07-09 yen against $1.0571-0581 and 160.34-44 yen in New York, and $1.0620-0622 and 159.60-64 yen in Tokyo late Tuesday afternoon.

© Kyodo News