TOKYO: Tokyo shares were 0.62 percent higher Monday morning on the back of a strong Wall Street rally as investors eye a meeting later in the day aimed at finalising a deal for debt-hit Greece.
The benchmark Nikkei 225 index at the Tokyo Stock Exchange added 58.26 points to 9,425.06 by the break, while the broader Topix index of all first-section shares jumped 0.84 percent, or 6.52 points, to 782.95.
French Finance Minister Pierre Moscovici on Sunday offered some hope in the long-running saga to reach a deal for Athens, saying that officials were "very close to a solution" as eurozone finance ministers meet later Monday.
The talks mark their third effort to agree on unlocking a 31.2-billion-euro ($40.5-billion) slice of aid for Greece as it teeters on the verge of bankruptcy, stoking eurozone fears among investors.
The Tokyo market had won support from a weaker yen, but gave up some of its early Monday gains as the euro came off a seven-month high above 107 yen with the greenback also slipping on the Japanese unit from US trade Friday.
"The weak-yen inspired gains are running into technical resistance as the Nikkei moves closer to 9500," an equity sales director at a foreign brokerage in Japan told Dow Jones Newswires.
"Foreigners appear to still be buying the market, but domestic institutions are selling."
US markets put in a strong showing Friday amid signs that the holiday shopping season was off to a good start, with the Dow Jones Industrial Average closing up 1.35 percent at 13,009.68.
Retail behemoth Walmart called it the "best ever" Black Friday, the traditional discount sales day that kicks off the holiday shopping season.
In Tokyo stock trading, Shares in Renesas Electronics soared on reports that its three major shareholders and a government fund reached a final accord on the embattled chipmaker's bailout.
Renesas shares jumped 11.07 percent to 321 yen in early afternoon trade.
Sony and Panasonic shares fell after ratings agency Fitch last week downgraded the electronics industry titans' credit ratings to junk status for the first time.
Sony was off 1.19 percent to 824 yen while Panasonic dipped 0.24 percent to 406 yen.
In early afternoon forex trade, the euro bought $1.2956 and 106.57 yen, from $1.2973 and 106.90 yen in New York.
The dollar was also weaker at 82.24 yen against 82.40 yen in US trade.
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