Tokyo stocks open 1.72 percent higher
TOKYO–Tokyo stocks opened 1.72 percent higher Friday after the dollar hit its highest level in more than two-and-a-half years against the yen.
The Nikkei 225 index at the Tokyo Stock Exchange was up 182.33 points to 10,791.97 at the start.
The Nikkei’s further gains came after news reports that the Bank of Japan was preparing to announce additional monetary easing next week and considering open-ended asset purchases in a bid to kickstart the economy, brokers said.
“The BoJ’s words served to allay some of the scepticism about the possibility of further yen weakening that have hit the market lately,” SMBC Nikko Securities general manager of equities Hiroichi Nishi told Dow Jones Newswires.
The dollar was at 89.87 yen in early Tokyo trade on Friday, against 89.86 in New York, where the US unit rose to a fresh 30-month high, briefly topping the 90 yen level.
The euro traded at 120.24 yen and $1.3374 in early Friday against 120.20 yen and $1.3375 in US trade overnight.
US stocks closed solidly higher Thursday after US data pointed to an improving employment and housing picture, with the Dow Jones Industrial Average up 84.79 points, or 0.63 percent, at 13,596.02.
Get Inquirer updates while on the go, add us on these apps:
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94