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Tokyo: Stocks up nearly 2.0% in opening trade


[TOKYO] Tokyo stocks jumped nearly two per cent in opening trade on Wednesday, bouncing back from a sharp drop the previous day as Wall Street shares posted robust gains.

The Nikkei 225 index at the Tokyo Stock Exchange, which fell 2.03 per cent on Tuesday, gained 1.97 per cent, or 292.35 points, to 15,096.63 in the first 20 minutes of trade.

US stocks shot higher on Tuesday, propelled by talk of broader monetary stimulus in Europe.

The Dow Jones Industrial Average gained 1.31 per cent while the broad-based S&P 500 rose 1.96 per cent.

The tech-rich Nasdaq Composite Index jumped 2.40 per cent, helped by a strong Apple earnings report.

The dollar was at 106.98 yen early Wednesday, compared with 106.99 yen in New York Tuesday afternoon.

The euro remained weak after falling Tuesday on speculation that the European Central Bank could expand its bond-buying programme to corporate debt.

The common European currency bought US$1.2709 and 135.97 yen against US$1.2714 and 136.04 yen in US trade.

Currency rates were largely unchanged after official data showed Japan's trade deficit expanded 1.6 per cent year-on-year in September, marking its worst ever shortfall for the month. AFP