Tokyo stocks open 0.61pc higher
September 05, 2013 - 12:01:31 pm
TOKYO: Tokyo stocks opened 0.61 percent higher on Thursday after Wall Street shares rose on surging auto sales and following a positive regional economies survey.
The Nikkei 225 index rose 86.33 points to 14,140.20 at the start.
Investors in New York were cheered by August double-digit auto sales gains from GM, Toyota, Ford and Chrysler.
And a positive regional economies survey from the Federal Reserve described US economic growth as still "modest to moderate" since July.
The report, known as the "beige book," showed consumer spending and manufacturing has risen in most of the 12 regions in the United States and said job creation was steady or improving.
The Dow Jones Industrial Average rose 0.65 percent to 14,930.87 points, while the broad-based S&P 500 added 0.81 percent at 1,653.08.
The market gains came despite continued edginess over the prospects of a US military strike on Syria.
"The US Fed's 'beige book' was reassuring for investors who continue to harbour doubts about the pace and quality of the economic recovery," said SMBC Nikko Securities general manager of equities Hiroichi Nishi.
The dollar held firm, trading at 99.77 yen early Thursday against 99.54 yen in New York Wednesday afternoon.
The euro bought $1.3198 and 131.63 yen compared with $1.3207 and 131.72 yen in US trade. (AFP)