Tokyo shares up by break on automaker, bank rally

Tokyo - Tokyo stocks rose on Tuesday morning, with automakers and banks leading the way while a dip in the yen supported to exporters.

Investors were encouraged by Greece's decision on Monday to discuss new bailout reforms in a bid to break a deadlock with its EU-IMF creditors.

US markets were closed for a holiday on Monday.

Investors are awaiting details on US President Donald Trump's tax plans, and his formal address to a joint session of Congress, slated for February 28, Okasan Securities said in a commentary.

"The Japanese market, which tends to take cues from news overseas, is likely to continue searching for a sense of direction," Okasan said.

"But confidence is growing over Japanese firms' annual earnings results."

The benchmark Nikkei 225 index was 88.55 points, higher at 19 339.63 by the break, while the Topix index of all first-section issues rose 5.34 points, to 1 552.35.

The dollar rose to ¥113.61 from ¥113.04 on Monday.

A weaker yen generally makes Japanese exports more competitive overseas and lifts the Tokyo market.

Toyota rose 0.34% to ¥6 454 while banking giant Mitsubishi UFJ Financial Group was up 0.76% at ¥773.6.

Toshiba rose 1.99% to ¥190, on the back of reports it is looking to raise at least ¥1.0trn from the sale of its prized memory chip business.

Sony cast off early losses to end the morning 0.37% higher at ¥3 521.

Beverage giant Asahi Group fell 0.78% to ¥4 078.