URGENT: Nikkei opens nearly 3% higher on drop in crude oil futures

© Kyodo News

Tokyo stocks opened sharply higher Thursday, briefly lifting the benchmark Nikkei nearly 3 percent, on receding concerns over a slowdown in the global economy following an overnight drop in crude oil futures.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 738.43 points, or 2.99 percent, from Wednesday to 25,455.96. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 52.18 points, or 2.97 percent, at 1,811.07.

Every industry category gained ground except for oil and coal product, and mining issues. Major gainers were led by air transportation, and glass and ceramics product issues.