Tuesday, October 1, 2013
Nikkei Opens Higher On Weaker Yen, Upbeat Tankan
TOKYO (NQN)--Tokyo stocks opened higher Tuesday, with the Nikkei Stock Average climbing 62 points to begin the day in the lower-14,500 range.
The dollar's rise to the mid-98 yen level and Monday's 304-point plunge in the benchmark index are prompting investors to buy stocks.
Also pushing up stocks is a Bank of Japan report released before the bell showing stronger-than-expected business sentiment.
According to the BOJ's tankan business sentiment survey for the quarter ended September, the diffusion index for large manufacturers stood at 12, better than the median figure of 8 projected by market analysts.
Despite overnight losses on Wall Street on concerns about a U.S. government shutdown due to a tussle over the budget between the Democrats and Republicans, the investor response is so far limited.