Tokyo stocks open higher as fears recede over U.S. rate hikes

Tokyo stocks opened higher Tuesday, boosted by gains on Wall Street amid receding fears over prolonged interest rate hikes in the United States.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 313.12 points, or 1.16 percent, from Monday to 27,219.16. The broader Topix index was up 17.15 points, or 0.88 percent, at 1,962.53.

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

At 9 a.m., the U.S. dollar fetched 130.58-59 yen compared with 130.61-71 yen in New York and 130.12-14 yen in Tokyo at 5 p.m. Monday.

The ...