Tokyo stocks open higher on dip-buying after Nikkei's sharp fall

© Kyodo News

Tokyo stocks opened higher Tuesday as investors bought on dips after the benchmark Nikkei fell nearly 4 percent over the past two trading days.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 443.59 points, or 1.59 percent, from Monday to 28,381.40. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 25.73 points, or 1.33 percent, at 1,967.06.

Every industry category gained ground, led by securities houses, rubber products and marine transportation issues.

At 9 a.m., the dollar fetched 113.65-113.68 yen compared with 113.57-67 yen in New York and 113.45-47 yen in Tokyo at 5 p.m. Monday.

The euro was quoted at $1.1277-1278 and 128.15-22 yen against $1.1269-1279 and 128.16-26 yen in New York and $1.1254-1256 and 127.68-72 yen in Tokyo late Monday afternoon.