Tokyo stocks open higher as U.S. inflation concerns ease

Tokyo stocks opened higher Monday, tracking a surge on Wall Street late last week after U.S. personal consumption data for April showed inflation is slowing.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 354.77 points, or 1.32 percent, from Friday to 27,136.45. The broader Topix index was up 20.42 points, or 1.08 percent, at 1,907.72.

On the top-tier Prime Market, gainers were led by machinery, service and electric appliance issues.

At 9 a.m., the dollar fetched 127.27-28 yen compared with 127.04-14 yen in New York and 127.13-14 yen in Tokyo at 5 p.m. Friday.

The euro was quoted at $1.0728-0732 and 136.54-60 yen against $1.0731-0741 and 136.37-47 yen in New York and $1.0735-0737 and 136.48-52 yen in Tokyo late Friday afternoon.

© Kyodo News