Tokyo: Stocks open 0.17% higher

[TOKYO] Tokyo stocks opened 0.17 per cent higher on Tuesday following a 12-day rally and a positive lead on Wall Street.

The Nikkei 225 index at the Tokyo Stock Exchange climbed 34.80 points to 20,604.67 at the start.

The benchmark index rose for a 12th consecutive day Monday, the longest upward trend since a 13-day run in Feb 1988 during the height of Japan's stock market bubble.

In forex trading, the dollar was at 124.86 yen on Tuesday morning in Tokyo, hovering around the highest level since Dec 2002, compared with 124.81 yen late Monday in New York.

The weak yen is positive for Japanese exporters as it makes them more competitive abroad and increases profits when repatriated.

The euro slipped to US$1.0921 from US$1.0924, but remained unchanged at 136.35 yen.

AFP