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Tokyo stocks open moderately higher on N.Y. gains.

TOKYO, June 1 Kyodo

Share prices on the Tokyo Stock Exchange opened moderately higher Friday after New York stocks posted a slight recovery Thursday.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 87.01 points, or 0.66%, to 13,349.15. The broader Tokyo Stock Price Index (TOPIX) of all First Section issues gained 10.24 points, or 0.78%, to 1,321.05. The Second Section also moved higher.

On Wall Street, the blue-chip Dow Jones Industrial Average rose 39.30 points to 10,911.94. The Nasdaq composite index also gained after suffering heavy, three-day-running losses.

The New York comeback facilitated bargain-hunting in Tokyo, where both the Nikkei and the TOPIX had fallen sharply for two days in a row.

Telecoms, brokerages and electronics makers led early gains, while oils, insurers and utilities lost ground.

The volume leader at 9:15 a.m. was Dai-Ichi Katei Denki, which fell 4 yen to 141 yen.
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Publication:Japan Weekly Monitor
Date:Jun 4, 2001
Words:162
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