Tokyo: Stocks open 1.40% higher

[TOKYO] Tokyo stocks opened 1.40 per cent higher Thursday after the yen fell against the dollar in a boost for Japanese exporters, despite news that the latest Greek debt talks ended without agreement.

The Nikkei 225 index at the Tokyo Stock Exchange rose 246.72 points to 17,899.40 at the start.

The euro drifted lower as Jeroen Dijsselbloem, head of the Eurogroup of eurozone ministers, said six hours of talks produced no agreement on an extension of Greece's 240 billion euro (US$270 billion) EU-IMF bailout programme.

The euro bought US$1.1310 and 135.90 yen early Thursday in Tokyo, slightly down from US$1.1332 and 136.37 yen in New York Wednesday afternoon.

The dollar was at 120.17 yen, down from 120.35 yen in US trade Wednesday but sharply up from 118.50 yen in Tokyo on Tuesday. There was no trading in Tokyo on Wednesday due to a national holiday.

On Wall Street the Dow Jones Industrial Average was flat on Wednesday as investors watched the Greek debt talks.

AFP