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Tokyo: Stocks open 0.24% higher

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Tokyo stocks opened 0.24 per cent higher on Monday after US stocks gained on a pullback in the dollar last week.

[TOKYO] Tokyo stocks opened 0.24 per cent higher on Monday after US stocks gained on a pullback in the dollar last week.

The Nikkei 225 index at the Tokyo Stock Exchange, which closed at a fresh 15-year high on Friday, added 47.76 points to 19,607.98 at the start.

The dollar was at 120.01 yen early Monday, down from 120.11 yen in New York late Friday and 120.71 yen in Tokyo earlier Friday.

The euro bought US$1.0820 and 129.97 yen against US$1.0821 and 129.98 yen in US trade.

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On Wall Street on Friday, US stocks gained broadly on a pullback in the dollar following a Federal Reserve statement that vowed a cautious approach to lifting interest rates.

The strong dollar could hurt US exports.

The Dow Jones Industrial Average jumped 0.94 per cent while the broad-based S&P 500 climbed 0.90 per cent.

The tech-rich Nasdaq bolted above 5,000 following a surge in biotech company Biogen, which announced promising clinical results for its aducanumab drug to treat Alzheimer's disease.

The Nasdaq Composite Index rose 0.68 per cent to 5,026.42, finishing above 5,000 for only the fourth time in its history.

AFP

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