Tokyo stocks open higher on cheap yen, US gains | Malay Mail

TOKYO, April 20 ― Tokyo stocks opened higher today, helped by a cheaper yen and gains on Wall Street where investors were encouraged by better-than-expected US housing starts data and solid corporate earnings.

The dollar firmed to ¥129.23 from ¥128.89 in New York late yesterday, extending the yen's recent falls driven by higher US Treasury yields. Despite pushing up the price of imported goods, a cheaper yen is seen as good for exporters as it increases both price competitiveness overseas and repatriated profits.

Its rivals were also higher with Honda trading up 3.71 per cent at ¥3,437 and Nissan rallying 5.34 per cent to ¥554.4.

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