Tokyo: Stocks open up 1.08%

[TOKYO] Tokyo stocks opened 1.08 per cent higher on Thursday, buoyed by solid US data and the yen's drop against the dollar.

The Nikkei 225 index at the Tokyo Stock Exchange rose 182.07 points to 17,067.40 at the start.

The Tokyo market got off to a strong start after Wall Street stocks jumped Wednesday.

The Dow Jones Industrial Average surged 1.23 per cent to 17,584.52, joining European equity markets higher and ending a five-day losing streak.

US data released Wednesday was solid with the trade deficit shrinking sharply to its smallest size in nearly a year and the private sector adding a higher-than-expected 241,000 jobs in December.

The dollar was at 119.26 yen early Thursday compared with 119.17 yen in New York Wednesday afternoon.

The euro was weak as data showed eurozone inflation turned negative in December, raising hopes for fresh stimulus from the European Central Bank.

The euro bought US$1.1844 and 141.20 yen early Thursday against US$1.1842 and 141.70 yen in US trade.

AFP