Japan stocks open above 10,000 mark
TOKYO – Tokyo stocks opened above the 10,000 mark on Monday, up 0.87 percent, following gains on Wall Street after a positive US job report and a private-debt deal to avert a disastrous default by Greece.
The Nikkei 225 index at the Tokyo Stock Exchange opened up 86.18 points at 10,015.92.
The benchmark index hit 10,007.62 in mid-afternoon trade Friday, the first breach of 10,000 since August 1, but gave up some of its gains by the close.
Dealers said they expected Tokyo shares to extend Friday’s gains after better-than-expected US non-farm payrolls data pushed the dollar above the 82.00 yen mark.
The dollar traded at 82.31 yen in early Asian trade on Monday, edging down from 82.44 yen late Friday in New York.
“Uncertainty over global economic growth is receding,” Hiroichi Nishi, general manager of the equity division at SMBC Nikko Securities, told Dow Jones Newswires.
China’s larger-than-expected trade deficit for February, coupled with a slower-than-expected increase in inflation, “is likely to stoke expectations for further easing steps” by Chinese authorities, Nishi said.
The euro bought $1.3108 and 107.90 yen in early Asian trade on Monday, compared with $1.3120 and 108.19 yen in New York late Friday.
The Dow Jones Industrial Average rose 0.11 percent on Friday to finish last week at 12,922.02.
