Tokyo: Stocks open 0.17% higher

[TOKYO] Tokyo stocks opened 0.17 per cent higher on Monday after Wall Street chalked up another record close last week.

The Nikkei 225 index at the Tokyo Stock Exchange rose 33.24 points to 19,766.16 at the start.

Another batch of disappointing US data released Friday added to speculation that the Federal Reserve would need to delay its plan to raise near-zero interest rates this year.

A delay in the credit-tightening would be a positive for stock markets.

The S&P 500 edged higher to a new record Friday, rising to 1.63 points, or 0.08 per cent, to 2,122.73.

The Dow Jones Industrial added 0.11 per cent to 18,272.56, while the tech-rich Nasdaq Composite Index dipped 0.05 per cent to 5,048.29.

The dollar bought 119.38 yen early Monday, compared with 119.41 yen in New York late Friday.

The euro fetched $1.1442 abd 136.56 yen, against $1.1446 and 136.67 yen in US trade.

Federal Reserve data on Friday showed US industrial production fell 0.3 per cent in April, the fifth straight month of decline.

The University of Michigan's US consumer sentiment index also plummeted to 88.6 in May from 95.9 in April.

AFP