Tokyo stocks were higher Tuesday morning as the yen's ongoing weakness against the U.S. dollar supported exporter issues, although some investors took a wait-and-see approach ahead of the release of U.S. inflation data later in the week.
The 225-issue Nikkei Stock Average rose 193.72 points, or 0.49 percent, from Monday to 39,540.76. The broader Topix index was up 9.12 points, or 0.33 percent, at 2,737.44.
The dollar moved little in the upper 151 yen range on caution about possible yen-buying intervention by Japanese authorities, dealers said. The government last intervened in October 2022 as the yen inched near the 152 level.
At noon, the dollar fetched 151.87-88 yen compared with 151.78-88 yen in New York and 151.87-88 yen in Tokyo at 5 p.m. Monday.
The euro was quoted at $1.0855-0859 and 164.85-93 yen against $1.0855-0865 and 164.85-95 yen in New York and $1.0832-0833 and 164.51-55 yen in Tokyo late Monday afternoon.
Stocks were higher from the outset, with chip-related shares tracking advances by their U.S. counterparts, analysts said. The U.S. government said Monday it will provide up to $6.6 billion in direct funding to the world's largest chipmaker Taiwan Semiconductor Manufacturing Co. to assist in the construction of factories in Arizona.
But investors refrained from chasing the upside, as they focused on the release of the U.S. consumer price index on Wednesday.
