Tokyo stocks open 0.82% higher

Tokyo stocks opened 0.82 percent higher on Wednesday as the dollar rose past 105 yen. The Nikkei 225 index climbed 129.19 points to 15,797.79 at the start.

Tokyo: Tokyo stocks opened 0.82 percent higher on Wednesday as the dollar rose past 105 yen.

The Nikkei 225 index climbed 129.19 points to 15,797.79 at the start.

The benefit of the currency market moves for equities should be enough to offset mostly weaker US stocks on Tuesday, traders said.

Strong US manufacturing data for August, released Tuesday, "should keep upward pressure on the dollar, which will, in turn, make Japan stocks attractive," said SMBC Nikko Securities general manager of equities Hiroichi Nishi.

A weaker yen invites buying of Japanese exporters as it inflates their profits when repatriated.

The Institute for Supply Management said Tuesday activity in the US manufacturing sector picked up pace in August, to its best level since August 2011.

The Dow Jones Industrial Average dropped 0.18 percent to 17,067.56, ahead of closely-watched central bank and labour market news later this week.

The dollar was at 105.18 yen in Asian trade early Wednesday, compared with 105.10 yen in New York Tuesday afternoon.

The euro bought $1.3131 and 138.19 yen against $1.3132 and 138.02 yen in US trade.

Analysts are looking ahead for news on additional possible monetary stimulus from Thursday`s European Central Bank meeting. Friday`s US jobs report could also move the market.

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