Tokyo: Stocks open up 1.08%
[TOKYO] Tokyo stocks opened 1.08 per cent higher on Thursday, buoyed by solid US data and the yen's drop against the dollar.
The Nikkei 225 index at the Tokyo Stock Exchange rose 182.07 points to 17,067.40 at the start.
The Tokyo market got off to a strong start after Wall Street stocks jumped Wednesday.
The Dow Jones Industrial Average surged 1.23 per cent to 17,584.52, joining European equity markets higher and ending a five-day losing streak.
US data released Wednesday was solid with the trade deficit shrinking sharply to its smallest size in nearly a year and the private sector adding a higher-than-expected 241,000 jobs in December.
The dollar was at 119.26 yen early Thursday compared with 119.17 yen in New York Wednesday afternoon.
The euro was weak as data showed eurozone inflation turned negative in December, raising hopes for fresh stimulus from the European Central Bank.
The euro bought US$1.1844 and 141.20 yen early Thursday against US$1.1842 and 141.70 yen in US trade.
AFP
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Why the yen is so weak and what that means for Japan
Europe: Stoxx ends lower as auto giants weigh; investors parse inflation data
US: Wall Street stocks fall as markets weigh strong wage data, Fed meeting
Japan may have spent 5.5 trillion yen on Apr 29 intervention, BOJ data suggests
Singapore stocks rise, tracking regional bourses; STI up 0.3%
Asia: Markets build on Wall Street rally, yen holds bounce