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Tokyo stocks boost 0.93% in early trade, Nikkei 225 climbs 181.03pts

Tokyo stocks boost 0.93% in early trade, Nikkei 225 climbs 181.03pts

TOKYO: Tokyo stocks have opened 0.93 per cent higher, boosted by a weaker yen and gains on Wall Street as risk appetite grew on speculation of more monetary stimulus in China.

The Nikkei 225 index at the Tokyo STOCK EXCHANGE climbed 181.03 points to 19,592.43 at the start.

The yen fell on hints from China that more easing might be in the works to support growth.

The dollar was at 120.05 yen early on Tuesday, down from 120.18 yen in New York but still well above 119.24 yen seen in Tokyo on Monday.

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

The euro stayed under pressure with markets on the watch for movement in talks on a new Greek bailout deal.

The 19-nation currency bought $1.0827 and 129.95 yen on Tuesday against $1.0825 and 130.10 yen in US trade.

The Dow Jones Industrial Average rose 1.49 per cent on Monday on a string of pharmaceutical deals and speculation on the Chinese stimulus.