TOKYO: Tokyo stocks gained 0.37 percent Tuesday morning, boosted by a weaker yen and hopes that Greece will manage to reach a deal on a debt write-down with private bondholders.
The Nikkei 225 index at the Tokyo Stock Exchange was up 32.35 points to 8,798.25 by the break after briefly topping the 8,800 mark for the first time since November.
The Topix index of all first-section issues was up 0.14 percent or 1.08 points at 757.87.
"Market sentiment is favourable," Okasan Securities strategist Hideyuki Ishiguro told Dow Jones Newswires, adding that buying by foreign investors was increasing.
He expected the Nikkei index will stay firm around 8,800 for the rest of the day.
Investors were watching a critical decision on Greek debt. A deal with bank creditors to write down Athens liabilities is a pre-condition for the country to receive the next tranche of its European bailout cash.
The market cautiously welcomed the euro recovery against the yen.
"The euro recovering to 100 yen is a relief, but it's not yet stable," Tachibana Securities operating officer Kenichi Hirano said.
The euro bought $1.3002 and 100.11 yen at Tokyo midday, slightly easing from $1.3027 and 100.31 yen in New York late Monday but still up from Tokyo levels a day earlier. The dollar was almost flat at 76.98 yen.
Automakers were higher, led by Toyota Motor with a 2.86 percent gain to 2,798 yen.
Sony lost 2.18 percent to 1,391 yen on profit-taking after the Nikkei business daily reported the electronics giant has proposed a capital alliance with scandal-hit Olympus. Olympus was flat at 1,297 yen.
The Dow Jones Industrial Average of 30 blue-chip stocks closed up 0.76 percent at 12,720.48 on Monday while the Nasdaq Composite lost 0.06 percent to 2,786.70.
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