Tokyo stocks open higher on upbeat earnings reports

© Kyodo News

Tokyo stocks opened higher Thursday as high-tech issues tracked overnight gains on the technology-heavy U.S. Nasdaq index, while sentiment was lifted by a slew of upbeat earnings reports from Japanese firms.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 122.59 points, or 0.44 percent, from Wednesday to 27,706.67. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 3.45 points, or 0.18 percent, at 1,924.88.

Gainers were led by iron and steel, marine transportation, and precision instrument issues.

At 9 a.m., the dollar fetched 109.53-57 yen compared with 109.44-54 yen in New York and 109.10-12 yen in Tokyo at 5 p.m. Wednesday.

The euro was quoted at $1.1837-1839 and 129.66-67 yen against $1.1832-1842 and 129.56-66 yen in New York and $1.1877-1878 and 129.58-62 yen in Tokyo late Wednesday afternoon.