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Tokyo: Stocks open 0.23% higher


[TOKYO] Tokyo stocks opened 0.23 per cent higher on Friday following rallies on Wall Street and a weak yen.

The Nikkei 225 index at the Tokyo Stock Exchange rose 46.51 points to 20,646.63 in the first few minutes of trading.

On Thursday, the Nasdaq vaulted to a new record high after a strong earnings report from Netflix helped spark a fairly broad rally led by technology stocks.

The tech-rich Nasdaq Composite Index powered up 1.26 per cent, while the Dow Jones Industrial Average rose 0.39 per cent.

On currency markets, the euro stood at US$1.0882 compared with US$1.0875 in New York late Thursday.

The unit rose to 135.13 yen against 135.00 yen in US trade, while the dollar also firmed to 124.18 yen from 124.14 yen.

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