Tokyo stocks open higher on buybacks after Nikkei's sharp drop

Economy

Tokyo stocks opened higher Wednesday as investors bought back shares a day after the benchmark Nikkei index posted an over 900-point plunge, the sharpest drop in more than two months. In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 174.97 points, or 0.61 percent, from Tuesday to 28,783.56. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 3.08 points, or 0.16 percent, to 1,909.00. Gainers were led by insurance, electric appliance and service issues. At 9 a.m., the dollar fetched 108.71-72 yen compared with 108.57-67 yen in New Yo...

Kyodo News

Kyodo News