TOKYO: Tokyo stocks opened 0.29 percent higher on Thursday afterUS stocks bounced back from the previous day's steep losses.
The Nikkei 225 index at the Tokyo Stock Exchange opened up 27.45 points at 9,486.19.
The index may find support in the yen's easing strength as concern overEurope's debt problems and theUSeconomic recovery recede, said Kenichi Hirano, operating officer at Tachibana Securities.
The Federal Reserve said in a report released Wednesday that "the economy continued to expand at a modest to moderate pace from mid-February through late March" while expressing concerns about higher fuel prices.
"Stocks were sold after disappointing non-farm payrolls data last week, but nothing has changed about ample liquidity provided (by global central banks)," Hirano told Dow Jones Newswires.
US stocks rebounded Wednesday, lifted by aluminum giant Alcoa's surprise quarterly profit and easing bond yields inSpainandItaly. The Dow Jones Industrial Average closed up 0.70 percent at 12,805.39.
The euro bought $1.3117 and 106.26 yen in early Asian trade, compared with $1.3108 and 106.00 yen inNew Yorklate Wednesday. The dollar was at 80.91 yen against 80.86 yen.
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