TOKYO: Tokyo stocks opened 0.54 percent higher on Thursday, tracking overnight gains on US and European markets after the IMF said it would boost its coffers for crisis intervention.
The Nikkei 225 index at the Tokyo Stock Exchange was up 46.10 points at 8,596.68.
"Fears over the European debt crisis are receding," said SMBC Nikko Securities general manager of equities Hiroichi Nishi.
The International Monetary Fund said Wednesday it needs up to $500 billion more to pad its war chest -- a move understood to be aimed at stalling fallout from the eurozone crisis.
The euro bought $1.2864 and 98.78 yen in early Asian trade, almost flat from New York where the common currency soared on the IMF funding call and hope that Greek debt talks would bear fruit.
The dollar traded at 76.78 yen, also hardly changed from New York.
Nishi also noted that surging US homebuilder confidence in business prospects for the coming year Wednesday reflected clear signs of a US economic recovery.
US data also showed lower inflation pressures and rising manufacturing activity last month.
The tech-heavy Nasdaq led US markets to strong gains Wednesday. The Dow Jones Industrial Average closed up 96.88 points or 0.78 percent at 12,578.95, while the Nasdaq Composite rose 1.53 percent to 2,769.71.
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