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Tokyo stocks open 0.56% higher

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(Globalpost/GlobalPost)

Tokyo stocks opened 0.56 percent higher on Monday, buoyed by a weak yen and lingering optimism over a sharp rally on Wall Street which pushed tantalisingly close to new records.

The Nikkei 225 index at the Tokyo Stock Exchange was up 62.82 points at 11,254.16 at the start.

"The external positives, including the currency and US stock movements, underscore the increasing confidence in the US economic recovery," said Hiroichi Nishi, general manager of equity at SMBC Nikko Securities.

The dollar remained firm against the yen in early Asian trade, buying 92.78 yen against 92.80 yen in New York on Friday afternoon.

The euro bought 126.62 yen and $1.3639 against 126.60 yen and $1.3637.

US stocks rallied sharply Friday, with the Dow industrials closing above 14,000 for the first time since October 2007 following a positive US jobs report.

The Dow Jones Industrial Average ended 1.08 percent higher at 14,009.79, close to its all-time high of 14,164.53 on October 9, 2007.

A monthly US jobs report showed employers added 157,000 jobs in January, fewer than expected, and the jobless rate inched up to 7.9 percent.

But revised data for all of 2012 heartened markets, with net job growth at an average of 181,000 a month, up from a prior estimate of 153,000.

-- Dow Jones Newswires contributed to this article --

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http://www.globalpost.com/dispatch/news/afp/130203/tokyo-stocks-open-056-higher