Tokyo stocks rose Friday morning, as technology issues tracked overnight gains by their U.S. counterparts and some export-oriented issues were lifted by the yen's weakness against the U.S. dollar.
The 225-issue Nikkei Stock Average rose 200.03 points, or 0.51 percent, from Thursday to 39,642.66. The broader Topix index was up 17.06 points, or 0.62 percent, at 2,764.02.
The dollar remained firm after hitting a fresh 34-year high of 153.32 yen in New York overnight, as U.S. wholesale prices in March increased at the fastest pace in 11 months, reinforcing the view that the Federal Reserve will keep interest rates elevated for longer than previously expected, dealers said.
But the dollar was capped in Tokyo amid vigilance about a possible intervention by Japanese authorities after the finance minister warned the government would respond appropriately to excessive volatility and was not ruling out any options.
At noon, the dollar fetched 153.16-19 yen compared with 153.24-34 yen in New York and 153.12-14 yen in Tokyo at 5 p.m. Thursday.
The euro was quoted at $1.0725-0729 and 164.26-36 yen against $1.0721-0731 and 164.34-44 yen in New York and $1.0743-0744 and 164.50-54 yen in Tokyo late Thursday afternoon.
Stocks were buoyed by buying of high-tech issues after the Nasdaq index logged a record high overnight.
But the Nikkei index was weighed down by heavyweight Fast Retailing, operator of the Uniqlo clothing chain, after its earnings report for the September-February period and projections, released the previous day, failed to meet market expectations.
