Tokyo: Stocks open 0.36% higher

[TOKYO] Tokyo stocks opened 0.36 per cent higher on Monday as the yen stayed weak against the dollar.

The Nikkei 225 index at the Tokyo Stock Exchange rose 64.13 points to 17,685.53 at the start.

The dollar stayed firm on expectations that the US central bank will raise interest rates before other central banks.

The greenback was at 119.46 yen early Monday compared with 119.43 yen in New York on Friday afternoon.

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

The euro bought US$1.2222 and 146.05 yen against US$1.2227 and 146.06 yen in US trade.

US stocks rose for the third day in a row on Friday, with the blue-chip Dow Jones Industrial Average closing up 0.15 per cent at 17,804.80.

AFP