Tokyo stocks open higher on hopes for slower U.S. rate hikes

Tokyo stocks opened higher Monday, tracking gains on Wall Street late last week, amid hopes the pace of interest rate hikes in the United States may slow after data showed inflation softening.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 95.85 points, or 0.35 percent, from Friday to 27,478.41. The broader Topix index was up 3.56 points, or 0.18 percent, at 1,986.22.

On the top-tier Prime Market, gainers were led by air transportation, land transportation and chemical issues.

At 9 a.m., the U.S. dollar fetched 129.83-86 yen compared with 129.75-85 yen in New York ...