Tokyo stocks open higher on receding U.S. rate hike fears

Tokyo stocks opened higher Thursday, as investors tracked overnight gains on Wall Street amid receding fears of further rate hikes by the U.S. Federal Reserve.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 408.32 points, or 1.28 percent, from Wednesday to 32,344.83. The broader Topix index was up 24.59 points, or 1.07 percent, at 2,332.43.

On the top-tier Prime Market, gainers were led by electric appliance, machinery and transportation equipment issues.

At 9 a.m., the U.S. dollar fetched 149.02-05 yen compared with 149.12-22 yen in New York and 148.76-78 yen in T...