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Tokyo: Stocks open 0.54% higher

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Tokyo stocks opened up 0.54 per cent on Tuesday, tracking gains on Wall Street where petroleum-linked equities rose on higher oil prices.

[TOKYO] Tokyo stocks opened up 0.54 per cent on Tuesday, tracking gains on Wall Street where petroleum-linked equities rose on higher oil prices.

The Nikkei 225 index at the Tokyo Stock Exchange added 111.91 points to 20,920.60 at the start.

US stocks surged Monday as Berkshire Hathaway announced a US$37.2 billion acquisition of Precision Castparts while petroleum-linked shares also advanced.

Berkshire's agreed acquisition of Precision would give Warren Buffett's conglomerate a maker of complex metal components for the aerospace, chemical processing and oil and gas industries.

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The Dow Jones Industrial Average gained 1.39 per cent to 17,615.17 The broad-based S&P 500 jumped 1.28 per cent to 2,104.18, while the tech-rich Nasdaq Composite Index advanced 1.16 per cent to 5,101.80.

In Tokyo forex trade, the dollar fetched 124.64 yen early Tuesday against 124.72 yen in New York late Monday.

The euro was flat at US$1.1019 while firming to 137.34 yen compared with 137.31 yen in US trade.

AFP

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