Tokyo stocks open higher on Wall St. gains, economy's 3rd-qtr rebound

©Kyodo News

Tokyo stocks opened sharply higher Monday, tracking gains on Wall Street late last week, while a strong rebound by Japan's economy in the July-September period supported investor sentiment.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 295.44 points, or 1.16 percent, from Friday to 25,681.31, its highest intraday level since June 4, 1991. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 17.84 points, or 1.05 percent, at 1,721.06.

Gainers were led by marine transportation, bank and rubber product issues.

At 9 a.m., the dollar fetched 104.66-67 yen compared with 104.57-67 yen in New York and 105.06-08 yen in Tokyo at 5 p.m. Friday.

The euro was quoted at $1.1845-1845 and 123.96-97 yen against $1.1831-1841 and 123.73-83 yen in New York and $1.1815-1816 and 124.13-17 yen in Tokyo late Friday afternoon.