Tokyo stocks open higher, continuing strong run

Tokyo stocks opened higher on Thursday, continuing a strong run of four consecutive days of gains, as investors were buoyed by a strong session on Wall Street and a cheaper yen.

The benchmark Nikkei 225 index was up 0.21 percent, or 49.05 points, at 23,721.57 while the broader Topix index was up 0.33 percent, or 5.87 points, at 1,791.53.

"Japanese trade is seen dominated by purchases in the morning before losing direction, following rises in European bourses and the Dow in New York," SBI Securities said in a commentary.

With a lack of fresh market-moving events, profit-taking may emerge later, it added.

The dollar fetched 112.26 yen in early Asian trade, unchanged from the level in New York and slightly lower than 112.32 yen in Tokyo Wednesday, but up from the 111-yen levels seen earlier this week.

Some blue-chip exporters were higher, with Honda gaining 0.94 percent to 3,415 yen and Nissan up 0.46 percent at 1,091.5 yen, while game giant Nintendo was up 1.32 percent at 40,530 yen.

Banks were also higher, with Mitsubishi UFJ Financial up 2.02 percent at 716.9 yen and its rival Sumitomo Mitsui Financial up 1.56 percent at 4,609 yen.

On Wall Street, the Dow climbed 0.6 percent at 26,405.76.