Tokyo stocks open higher tracking US gains

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Tokyo stocks opened higher on Monday, extending strong rallies on Wall Street, where the weakening economic outlook moderated expectations on central bank monetary tightening.

The benchmark Nikkei 225 index was up 1.02 percent, or 271.10 points, at 26,763.07 in early trade, while the broader Topix index was up 1.00 percent, or 18.60 points, at 1,885.32. The dollar fetched 135.00 yen, against 135.17 yen in New York late Friday. “Gains in US shares are likely encouraging investors in Japanese stocks to buy,” Mizuho Securities said. On Wall Street, the Dow gained 2.7 percent to 31,500.68, the broad-based S&P 500 added 3.1 percent, while the tech-rich Nasdaq Composite Index jumped 3.3 percent.—AFP

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