Business News
Tokyo stocks open higher on overnight US gains, stronger GDP data
By DPA
May 16, 2008, 2:32 GMT

Tokyo -Tokyo stocks continued to rally Friday on overnight gains in the US market and Japan's stronger-than-expected gross domestic product for the January-March period.

The Nikkei 225 Stock Average rose 21.97 points, or 0.15 per cent, to 14,273.71.

The broader Topix index of all first-section issues was also up 9.36 points, or 0.67 per cent, at 1,402.23.

Japan's economy grew an annualized 3.3 per cent in real terms in the January-March period for the third straight quarter of expansion, the government said Friday.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 104.69-74 yen, down from Thursday's 5 pm quote of 104.80-83 yen.

The euro was quoted at 1.5457-62 dollars, down from Thursday's 5 pm quote of 1.5521-24 dollars, and at 161.88-93 yen, down from 162.69-73 yen.