Tokyo stocks open sharply higher on relief after Fed meeting

© Kyodo News

Tokyo stocks opened sharply higher Thursday, with the Nikkei index rising over 2 percent, after the results of the U.S. Federal Reserve's policy meeting landed within market expectations and provided relief to investors.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average climbed 581.21 points, or 2.04 percent, from Wednesday to 29,040.93. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 30.29 points, or 1.53 percent, to 2,014.39.

Every industry gained ground except for pulp and paper issues. Gainers were led by marine transportation, precision instrument and electric appliance issues.

At 9 a.m., the dollar fetched 114.14-15 yen compared with 114.00-10 yen in New York and 113.73-74 yen in Tokyo at 5 p.m. Wednesday.

The euro was quoted at $1.1290-1291 and 128.86-89 yen against $1.1290-1300 and 128.76-86 yen in New York and $1.1264-1266 and 128.11-15 yen in Tokyo late Wednesday afternoon.