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Tokyo: Stocks open 0.49% higher


[TOKYO] Tokyo stocks opened 0.49 per cent higher on Tuesday with investor sentiment lifted by sharp gains on Wall Street and a weaker yen.

The Nikkei 225 index at the Tokyo Stock Exchange rose 97.08 points to 19,731.57 at the start.

US stocks rose sharply Monday on the latest Chinese stimulus measures and some prominent earnings that beat forecasts.

The Dow Jones Industrial Average gained 1.17 per cent while the broad-based S&P 500 rose 0.92 per cent.

China's central bank announced Sunday it would cut the level of funds that commercial banks must hold in reserve in the world's second-largest economy by one percentage point, the second such move this year to boost lending.

The dollar was at 119.26 yen early Tuesday, little changed from 119.22 yen in New York late Monday but well up from 118.62 yen in Tokyo earlier Monday.

The euro stayed weak after falling Monday on growing worries over the cash-trapped Greek government.

The euro bought US$1.0738 and 128.07 yen against US$1.0741 and 128.05 yen in US trade.


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