Tokyo stocks rose Friday morning as investors sought bargains after the Nikkei index hit a one-month low the previous day, while the market was weighed down by overnight falls on Wall Street.
The 225-issue Nikkei Stock Average gained 65.83 points, or 0.17 percent, from Thursday to 38,119.96. The broader Topix index was up 17.11 points, or 0.63 percent, at 2,743.31.
The U.S. dollar was slightly weaker in the upper 156 yen range on concerns over the U.S. economy after the country's gross domestic product growth in the January-March quarter was revised downward, dealers said.
At noon, the dollar fetched 156.81-82 yen compared with 156.77-87 yen in New York and 156.96-98 yen in Tokyo at 5 p.m. Thursday.
The euro was quoted at $1.0811-0812 and 169.53-55 yen against $1.0826-0836 and 169.82-92 yen in New York and $1.0808-0809 and 169.65-69 yen in Tokyo late Thursday afternoon.
Stocks rebounded as a wide range of issues were sought, but the benchmark Nikkei's gains were capped as investors offloaded blue-chip high-tech issues after their U.S. counterparts logged losses overnight.
"Investors were awaiting the release of U.S. personal consumption expenditure later in the day, as it is one of the key measures used by the Federal Reserve to gauge inflation," said Kazuo Kamitani, a strategist in the Investment Content Department of Nomura Securities Co.
Market participants are focusing on when the U.S. central bank will begin cutting interest rates as the world's largest economy faces persistent inflation, analysts said.
