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Tokyo: Stocks open 0.24% higher


[TOKYO] Tokyo stocks opened up 0.24 per cent on Friday, aided by a lower yen and higher New York shares following a solid US retail sales report.

The Nikkei 225 index at the Tokyo Stock Exchange added 48.81 points to 20,431.78 at the start.

The Dow Jones Industrial Average advanced 0.22 per cent after a stronger-than-expected US retail sales report suggested American consumers are gaining confidence after a sluggish first quarter.

The dollar held up early Friday, buying 123.58 yen against 123.45 yen in New York late Thursday.

A lower yen is positive for Japanese exporters as it increases profits when repatriated.

The euro drifted lower to US$1.1244 and 138.93 yen from US$1.1260 and 139.00 yen in US trade as investors fretted over troubled Greek negotiations with official creditors.


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