Tokyo stocks rose Monday morning, boosted by a Wall Street rally late last week and buying of exporters on the yen's weakness against the U.S. dollar following stronger-than-expected U.S. jobs data.
The 225-issue Nikkei Stock Average rose 200.19 points, or 0.55 percent, from Friday to 36,358.21. The broader Topix index was up 19.36 points, or 0.76 percent, at 2,559.04.
The dollar remained firm in the mid-148 yen zone in Tokyo after surging Friday on receding expectations for imminent interest rate cuts by the U.S. Federal Reserve following the solid employment data for January, dealers said.
At noon, the dollar fetched 148.50-53 yen compared with 148.35-45 yen in New York and 146.62-64 yen in Tokyo at 5 p.m. Friday.
The euro was quoted at $1.0779-0780 and 160.07-12 yen against $1.0785-0795 and 160.00-10 yen in New York and $1.0880-0881 and 159.53-57 yen in Tokyo late Friday afternoon.
Stocks rose from the outset, led by auto issues on the weaker yen that raises exporters' overseas profits when repatriated. Financial issues also drew buying as a rise in Japanese long-term interest rates lifted hopes for improved earnings, brokers said.
The robust U.S. employment data generated optimism that the world's largest economy will have a soft landing, also contributing to strength in Japanese stocks, brokers said.
