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Tokyo: Stocks open 0.88% higher


[TOKYO] Tokyo shares opened 0.88 per cent higher Friday following a continued rally on Wall Street as oil prices steadied.

The Nikkei 225 index at the Tokyo Stock Exchange climbed 151.64 points to 17,318.74 at the start.

Wall Street stocks soared Thursday for a second day as oil prices steadied and investors became more confident of monetary stimulus in Europe.

The Dow Jones Industrial Average surged 1.84 per cent while the broad-based S&P 500 jumped 1.79 per cent.

The euro on Thursday fell below US$1.18 for the first time in nine years with investors anticipating more stimulus from the European Central Bank and, conversely, a trend toward tightening at its US counterpart, the Federal Reserve.

The euro bought US$1.1793 early Friday, compared with US$1.1795 in New York Thursday afternoon. Against the Japanese currency, the euro fetched 141.29 yen against 141.15 yen.

The dollar was at 119.77 yen Friday, compared with 119.65 yen in US trade.