Tokyo stocks opened higher Thursday, spurred by record high closes on Wall Street overnight after the U.S. consumer price index for April showed inflation is cooling which fueled hopes for interest rate cuts by the Federal Reserve.
In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 305.10 points, or 0.79 percent, from Wednesday to 38,690.83. The broader Topix index was up 2.55 points, or 0.09 percent, at 2,733.43.
On the top-tier Prime Market, gainers were led by precision instrument, service and electric appliance shares.
At 9 a.m., the U.S. dollar fetched 154.30-31 yen compared with 154.83-93 yen in New York and 156.09-11 yen in Tokyo at 5 p.m. Wednesday.
The euro was quoted at $1.0887-0891 and 167.99-168.06 yen against $1.0879-0889 and 168.54-64 yen in New York, and $1.0825-0827 and 168.97-169.01 yen in Tokyo late Wednesday afternoon.
