Nikkei rises to new 30-year high at outset amid U.S. stimulus hopes

©Kyodo News

Tokyo stocks opened higher Monday, with the Nikkei rising to its highest intraday level since August 1990, tracking gains on Wall Street late last week on hopes for early realization of a U.S. stimulus package.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 339.93 points, or 1.18 percent, from Friday to 29,119.12. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 22.96 points, or 1.21 percent, at 1,913.91.

Gainers were led by iron and steel, mining, and farm and fishery issues.

At 9 a.m., the dollar fetched 105.39-40 yen compared with 105.32-42 yen in New York and 105.49-50 yen in Tokyo at 5 p.m. Friday.

The euro was quoted at $1.2049-2049 and 126.99-127.03 yen against $1.2045-2055 and 126.92-127.02 yen in New York and $1.1963-1965 and 126.20-24 yen in Tokyo late Friday afternoon.