Tokyo stocks open higher after yen hits new 24-year low vs. dollar

Tokyo stocks opened slightly higher Wednesday, with support coming from sharp gains on Wall Street overnight and buying in automakers and other exporters after the yen tumbled against the dollar to a 24-year low.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 18.03 points, or 0.07 percent, from Tuesday to 26,264.34. The broader Topix index was up 3.29 points, or 0.18 percent, at 1,859.49.

On the top-tier Prime Market, gainers were led by transportation equipment, rubber product and pharmaceutical issues.

At 9 a.m., the dollar fetched 136.30-33 yen compared with 136.64-74 yen in New York and 135.22-23 yen in Tokyo at 5 p.m. Tuesday.

The euro was quoted at $1.0529-0533 and 143.51-60 yen against $1.0530-0540 and 143.90-144.00 yen in New York and $1.0556-0558 and 142.74-78 yen in Tokyo late Tuesday afternoon.

© Kyodo News