Tokyo stocks open higher with yen stable against dollar

Tokyo - Tokyo stocks opened higher on Monday, extending rallies in New York with the cheaper yen also supporting the market.

The benchmark Nikkei 225 index edged up 0.23%, or 51.08 points, to 21 839.22 in early trade while the broader Topix was up 0.34%, or 5.75 points, at 1 697.29.

"After gaining in early trade, the Tokyo market today could lose a sense of direction" as positivity generated by rallies last week in New York was likely to be offset by lingering worries over US-China trade frictions, SBI Securities said in a commentary."

The dollar was changing hands at 110.51 yen in early trade, slightly higher than 110.46 yen in New York late Friday.

In Tokyo, telecom giant SoftBank was 1.44% higher at 8 412 yen, Nintendo was up 2.16% at 35 470 and electronics parts maker Murata Manufacturing was 3.60% higher at 19 665 yen.

Wall Street stocks notched strong gains Friday on solid US employment data, with the Dow finishing up 0.4% at 24 456.48.

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