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Home International Markets

Tokyo stocks open 0.17% higher, Nikkei 225 climbs 34.80pts

byCustoms Today Report
02/06/2015
in International Markets
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TOKYO: Tokyo stocks opened 0.17 percent higher on Tuesday following a 12-day rally and a positive lead on Wall Street.

The Nikkei 225 index at the Tokyo Stock Exchange climbed 34.80 points to 20,604.67 at the start.

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The benchmark index rose for a 12th consecutive day Monday, the longest upward trend since a 13-day run in February 1988 during the height of Japan s stock market bubble.

In New York, stocks rose on positive economic data with higher construction spending and personal incomes in April.

The Dow Jones Industrial Average added 0.16 percent Monday, while the broad-based S&P 500 rose 0.21 percent.

The tech-rich Nasdaq Composite Index gained 0.25 percent.

In forex trading, the dollar was at 124.86 yen on Tuesday morning in Tokyo, hovering around the highest level since December 2002, compared with 124.81 yen late Monday in New York.

The weak yen is positive for Japanese exporters as it makes them more competitive abroad and increases profits when repatriated.

The euro slipped to $1.0921 from $1.0924, but remained unchanged at 136.35 yen.

Greece s battle with official creditors over more financing still looms, with the country facing a Friday deadline to come up with 300 million euros ($328 million) to pay the International Monetary Fund.

 

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