Tokyo stocks open higher on Wall St. rally ahead of Fed meeting

Tokyo stocks opened higher Tuesday, tracking an overnight rally on Wall Street ahead of the U.S. Federal Reserve's policy meeting amid expectations that the central bank will ease the pace of its interest rate hikes.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 206.19 points, or 0.74 percent, from Monday to 28,048.52. The broader Topix index was up 16.34 points, or 0.83 percent, at 1,973.67.

On the top-tier Prime Market, gainers were led by insurance, mining, and oil and coal product issues.

At 9 a.m., the dollar fetched 137.51-52 yen compared with 137.59-69 yen in New York and 136.68-70 yen in Tokyo at 5 p.m. Monday.

The euro was quoted at $1.0540-0543 and 144.94-99 yen against $1.0534-0544 and 144.98-145.08 yen in New York and $1.0526-0528 and 143.87-91 yen in Tokyo late Monday afternoon.

© Kyodo News