Tokyo stocks open higher on buybacks after 3-day losing run

©Kyodo News

Tokyo stocks opened higher Monday as investors went bargain hunting after the benchmark Nikkei sank about 1.5 percent over a three-day losing streak last week.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 310.23 points, or 1.03 percent, from Friday to 30,328.15. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 17.60 points, or 0.91 percent, at 1,946.55.

Gainers were led by air transportation, nonferrous metal, and iron and steel issues.

At 9 a.m., the dollar fetched 105.53-54 yen compared with 105.39-49 yen in New York and 105.59-61 yen in Tokyo at 5 p.m. Friday.

The euro was quoted at $1.2125-2125 and 127.95-96 yen against $1.2113-2123 and 127.71-81 yen in New York and $1.2109-2110 and 127.86-90 yen in Tokyo late Friday afternoon.