Tokyo stocks opened higher Monday, supported by buying of exporter issues on the yen's depreciation against the U.S. dollar as hopes for early U.S. interest rate cuts receded.
In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 61.45 points, or 0.16 percent, from Friday to 38,745.38. The broader Topix index was up 10.40 points, or 0.38 percent, at 2,765.43.
On the top-tier Prime Market, gainers were led by insurance, oil and coal product, and bank shares.
At 9 a.m., the dollar fetched 156.81-84 yen compared with 156.66-76 yen in New York and 155.41-43 yen in Tokyo at 5 p.m. Friday.
The euro was quoted at $1.0777-0781 and 168.99-169.09 yen against $1.0796-0806 and 169.25-35 yen in New York, and $1.0892-0894 and 169.28-32 yen in Tokyo late Friday afternoon.
