Tokyo stocks Nikkei up july 19 2012

Tokyo stocks Nikkei up july 19 2012 : Tokyo stocks have opened 0.78 percent higher following overnight gains on Wall Street on upbeat earnings reports from technology and other firms. The Nikkei index at the Tokyo Stock Exchange was up 68.26 points at 8,795.00 in opening trade on Thursday.

The market will be supported by high-tech sector buying, Rakuten Securities senior market analyst Masayuki Doshida told Dow Jones Newswires.


But he said the Nikkei was likely to face selling pressure above 8,800 amid a stronger yen, which hurts Japanese exporters' earnings.

Currency rates were rangebound in early Asian trade after the dollar got a boost on Wednesday as prospects dimmed for more US stimulus to be announced when the Federal Reserve meets later this month.

The euro bought $1.2280 and Y96.74 in Thursday morning trade, almost unchanged from New York late on Wednesday. The dollar was also flat at Y78.78.

The Dow Jones Industrial Average added 103.16 points (0.81 percent) to end at 12,908.70 as quarterly earnings reports from Intel, Yahoo! and Bank of America beat Wall Street expectations.

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