Tokyo stocks rose Monday morning, tracking advances on Wall Street late last week, while a sharp fall on the market the previous trading day led investors to seek bargains.
The 225-issue Nikkei Stock Average gained 525.73 points, or 1.35 percent, from Friday to 39,517.81. The broader Topix index was up 32.58 points, or 1.21 percent, at 2,735.20.
The U.S. dollar was firm in the upper 151 yen range as the currency was bought on expectations that the U.S. Federal Reserve would keep interest rates elevated for longer than projected after stronger-than-expected employment data released Friday, dealers said.
At noon, the dollar fetched 151.76-79 yen compared with 151.59-69 yen in New York and 151.33-35 yen in Tokyo at 5 p.m. Friday.
The euro was quoted at $1.0839-0843 and 164.49-59 yen against $1.0832-0842 and 164.27-37 yen in New York and $1.0838-0839 and 164.02-06 yen in Tokyo late Friday afternoon.
The Nikkei benchmark briefly gained over 600 points, additionally buoyed by the yen's depreciation against dollar that lifted exporter-related issues, analysts said.
But some market participants remained cautious ahead of the release of key U.S. economic indicators, including the March U.S. consumer price index on Wednesday.
