Tokyo stocks open higher on prospects of slowing U.S. rate hikes

Tokyo stocks opened higher Thursday after the minutes of the U.S. Federal Reserve hinted at the possibility of slowing interest rate hikes in the near future.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 376.71 points, or 1.34 percent, from Tuesday to 28,492.45. The broader Topix index was up 25.53 points, or 1.28 percent, at 2,020.28. Japanese financial markets were closed Wednesday due to a national holiday.

On the top-tier Prime Market, gainers were led by marine transportation, electric appliance, and precision instrument issues.

At 9 a.m., the dollar fetched 139.23-26 yen compared with 139.55-65 yen in New York at 5 p.m. Wednesday.

The euro was quoted at $1.0416-0420 and 145.02-11 yen against $1.0389-0399 and 145.00-10 yen in New York late Wednesday afternoon.

© Kyodo News