Tokyo stocks open higher on bargain-hunting following recent falls

©Kyodo News

Tokyo stocks were higher in early trading Tuesday as buying kicked in after the benchmark Nikkei shed over 1,000 points over the past two trading days and concerns eased over borrowing costs following drops in U.S. Treasury yields.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 300.29 points, or 1.03 percent, from Monday to 29,474.44. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 10.89 points, or 0.55 percent, at 2,001.07.

Gainers were led by rubber product, electric appliance and metal product issues.

At 9 a.m., the dollar fetched 108.78-79 yen compared with 108.78-88 yen in New York and 108.68-69 yen in Tokyo at 5 p.m. Monday.

The euro was quoted at $1.1933-1933 and 129.79-86 yen against $1.1927-1937 and 129.85-95 yen in New York and $1.1884-1885 and 129.16-20 yen in Tokyo late Monday afternoon.