Tokyo stocks open higher tracking Wall Street gains

© Kyodo News

Tokyo stocks opened higher Monday, tracking Wall Street gains made late last week on receding concerns about near-term U.S. monetary stimulus tapering with investors believing the period of elevated inflation would be temporary.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 138.56 points, or 0.48 percent, from Friday to 29,087.29. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 4.48 points, or 0.23 percent, at 1,958.50.

Gainers were led by marine transportation, rubber product and air transportation issues.

At 9 a.m., the dollar fetched 109.71-72 yen compared with 109.62-72 yen in New York and 109.43-44 yen in Tokyo at 5 p.m. Friday.

The euro was quoted at $1.2110-2110 and 132.87-91 yen against $1.2103-2113 and 132.77-87 yen in New York and $1.2182-2184 and 133.31-35 yen in Tokyo late Friday afternoon.