Tokyo stocks open higher on dip-buying after sharp fall

© Kyodo News

Tokyo stocks opened higher Thursday as investors scooped up battered shares after the Nikkei index plunged to its lowest level in nearly five months the previous day.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 205.22 points, or 0.75 percent, from Wednesday to 27,672.45. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 17.42 points, or 0.91 percent, at 1,937.14.

Gainers were led by precision instrument, pulp and paper, and nonferrous metal issues.

At 9 a.m., the dollar fetched 114.33-38 yen compared with 114.28-38 yen in New York and 114.42-43 yen in Tokyo at 5 p.m. Wednesday.

The euro was quoted at $1.1343-1344 and 129.68-75 yen against $1.1338-1348 and 129.60-70 yen in New York and $1.1330-1332 and 129.64-68 yen in Tokyo late Wednesday afternoon.