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Tokyo stocks open up 1.06%

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Arab Today, arab today Tokyo stocks open up 1.06%

Tokyo - AFP

Tokyo stocks opened 1.06 percent higher on Friday, aided by a weak yen against the dollar and an overnight rise on Wall Street. The Nikkei 225 index was up 106.25 points at 10,145.58 at the start, after a 1.19 percent drop on profit taking the previous day. \"Japan shares remain somewhat overbought, but the weaker yen should nevertheless keep the market supported,\" said SMBC Nikko Securities general manager of equities Hiroichi Nishi. The dollar was at 84.41 yen in early Asian trade against 84.38 yen in New York Thursday afternoon, with the yen pressured by expectations that Japan\'s incoming government would prod the central bank to take more easing measures. The euro was at $1.3224 and 111.60 yen compared with $1.3241 and 111.72 yen in US trade. The Dow Jones Industrial Average ended Thursday up 0.45 percent at 13,311.72 as the market appeared to show optimism about a deal in Washington to prevent the economy from going over the \"fiscal cliff\" of tax hikes and spending cuts. -- Dow Jones Newswires contributed to this article --

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