Tokyo stocks open higher as weaker yen boosts exporters

Tokyo stocks opened in the positive on Wednesday, with the Nikkei index hitting a new 34-year intraday high led by buying of exporters after the yen weakened overnight against the U.S. dollar.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 438.74 points, or 1.23 percent, from Tuesday to 36,057.92. The broader Topix index was up 22.57 points, or 0.90 percent, at 2,526.55.

On the top-tier Prime Market, gainers were led by marine transportation, insurance and wholesale trade issues.

At 9 a.m., the dollar fetched 147.23-24 yen compared with 147.12-22 yen in New York and 146.15-17 yen in Tokyo at 5 p.m. Tuesday.

The euro was quoted at $1.0877-0881 and 160.14-21 yen against $1.0869-0879 and 160.06-16 yen in New York and $1.0917-0918 and 159.56-60 yen in Tokyo late Tuesday afternoon.

© Kyodo News