Asia stocks higher, buoyed by U.S.
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Japanese investors are buying technology-related stocks.
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TOKYO, Japan -- Japanese stocks opened higher on Monday, with investors lured to NEC Corp and other high-tech issues after another rise in their U.S. peers on signs that an upswing in the world's biggest economy is under way.
While a firming yen is causing some concern over the profits of Japanese exporters, it will not be a big issue as long as the global economy is on the mend and the dollar stays within a recent range of between 115 and 120 yen, analysts told Reuters.
The Nikkei average was up 0.73 percent 10,419.33 a in early trading while the broader Topix index was more than 1 percent firmer at 2023.86.
The U.S. dollar was trading at 116.59 yen on the Tokyo foreign exchange market at 9 a.m. (0000 GMT) Monday, down 0.61 yen from late Friday in Tokyo and below the 116.95 yen it bought in New York later that day.
On the stock market, traders told The Associated Press blue chips, including Matsushita Electric Industrial, Toyota Motor and NTT DoCoMo, led the advance in early trading.
On Wall Street Friday, the Dow Jones industrial average closed up 41.61, or 0.4 percent, at 9,415.82.
The Nasdaq composite index rose 10.27, or 0.6 percent, to 1,810.45. With Friday's advance, the Dow posted its sixth straight winning month, while the Nasdaq had its seventh consecutive monthly gain.
Elsewhere in Asia, South Korea's Kospi index was 0.6 percent stronger at 764.06 while in Australia the S&P/ASX 200 added .027 percent to 3211.5.
The only market to open in the red was New Zealand's. The NZSE Top50 index was trading 0.22 percent weaker at 2131 as traders there began the afternoon session.
