TOKYO: Japanese stocks opened 1.27 percent higher on Wednesday, tracking gains in Europe and on Wall Street sparked by firm US housing data, improved German sentiment and reports of a deal on Greece's debt.
The Nikkei index at the Tokyo Stock Exchange added 106.26 points to 8,442.74 in early trade. The Topix index of all first section shares rose 1.18 percent or 8.51 points to 727.00.
"The housing sector data are quite important, which followed some good developments coming out of Europe," Kenichi Hirano, operating officer at Tachibana Securities, told Dow Jones Newswires.
US stocks were helped by data suggesting a turnaround in the US housing industry, with new home starts jumping 9.3 percent in November to the best level since April 2010, when since-expired tax credits were driving sales.
European markets were higher on encouraging signs for the eurozone economy after two leading indicators in Germany showed surprisingly bright sentiment and Spain pulled off another successful bond auction.
Reports meanwhile said Greece was near a crucial deal with private banks to write down a chunk of its foreign debt that is expected to save Athens more than 100 billion euros ($130 billion) in financing costs.
On the forex market, the euro stood at $1.3112, slightly down from $1.3131 in New York Tuesday, and at 102.09 yen, up from 101.88 yen in New York.
The dollar was at 77.84 yen, slightly lower from 77.89.
Comments
Comments are closed for this article.