Tokyo stocks were higher Tuesday morning with the Nikkei index briefly hitting a fresh 34-year intraday high, tracking overnight gains on Wall Street.
The 225-issue Nikkei Stock Average rose 373.32 points, or 1.02 percent, from Monday to 36,920.27. The broader Topix index was up 16.94 points, or 0.67 percent, at 2,561.86.
The U.S. dollar moved little in the lower 148 yen range in the morning as investors took a wait-and-see approach ahead of the results of a Bank of Japan policy meeting.
At noon, the dollar fetched 148.22-23 yen compared with 148.05-15 yen in New York and 148.04-05 yen in Tokyo at 5 p.m. Monday.
The euro was quoted at $1.0886-0890 and 161.35-42 yen against $1.0878-0888 and 161.15-25 yen in New York and $1.0897-0898 and 161.32-36 yen in Tokyo late Monday afternoon.
Stocks were higher from the outset, tracking overnight gains on U.S. indexes that saw the Dow Jones reach a record high. But investors also locked in gains after the Nikkei benchmark rose over 1,000 points in the last two sessions to a fresh 34-year high.
Investors were focused on BOJ Governor Kazuo Ueda's press conference later in the day following the two-day policy meeting. While the central bank did not change its negative rate policy, market participants will be eyeing Ueda's remarks to gauge when it may alter its ultraloose policy, analysts said.
"Markets will be watching for his comments on the recent weakening of the yen, as well as his assessment on the effects of the Noto peninsula earthquake," said Kazuo Kamitani, a strategist in the Investment Content Department of Nomura Securities Co.
