Tokyo stocks open higher
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TOKYO, Nov 30 AFP
November 30 2012, 11:43AM
Tokyo stocks have opened 0.49 per cent higher, buoyed by optimism over the US economy.
The Nikkei 225 index at the Tokyo Stock Exchange was up 45.89 points at 9,446.77 in early trade on Friday.
Talks on averting the fiscal cliff of tax hikes and spending cuts proceed in Washington, while the US government raised its estimate of third-quarter economic growth, analysts noted.
"Stocks are likely to extend their recent bullish trend," said Hiroichi Nishi, general manager of equities at SMBC Nikko Securities.
"With most of the rhetoric about future political change and more central bank easing hopes (in Japan) now factored in, markets will turn to watching currency levels," he told Dow Jones Newswires.
He added pre-weekend position-closing as well as month-end window dressing would also become priorities.
Currency rates hardly moved immediately after the Japanese government released a batch of October economic data. Industrial production logged a surprise rise while inflation and the jobless rate stayed flat.
The euro bought $US1.2970 and Y106.48 in early Asian trade after the data, compared with $US1.2978 and Y106.58 in New York late on Thursday.
The dollar was unchanged at Y82.10.
The Dow Jones Industrial Average finished up 0.28 per cent at 13,021.82 on Thursday, helped by an expected strong upward revision in the US economic growth estimate for the third quarter.