Tokyo stocks open sharply higher on overnight surge in U.S. shares

Tokyo stocks opened sharply higher Friday due to a surge in U.S. shares overnight, with the key Nikkei index recovering the 18,000 mark after falling below the line the previous day.
In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 199.12 points, or 1.11 percent, to 18,183.26. The Topix index of all First Section issues on the Tokyo Stock Exchange was up 20.29 points, or 1.15 percent, to 1,783.35. The Second Section gained.

Stocks staged a rally after three straight sessions of decline, responding to a surge in U.S. stocks overnight on takeover talks in the mining sector and robust sales at retailers.

In Tokyo, shipping, wholesale, real estate and rubber product issues were major gainers as all 33 sectors advanced.

Pre-opening buy orders placed by foreign brokerages, a key barometer of foreign investors' appetite for Japanese stocks, topped sell orders for the fourth straight trading day, brokers said.

In New York on Thursday, the Dow Jones Industrial Average rose 283.86 points, or 2.09 percent, to an all-time closing high of 13,861.73. The tech-heavy Nasdaq Composite Index was up 49.94 points, or 1.88 percent, to 2,701.73.

Source: Kyodo News