Tokyo stocks open up 1.05%

Tokyo stocks opened 1.05 percent higher on Tuesday as the yen remained weak against other major currencies. The Nikkei 225 index at the Tokyo Stock Exchange opened up 113.08 points at 10,914.65 after a three-day holiday-extended weekend. "The declining yen continues to pull investors off the fence, while earnings expectations from US companies, as well as for a broader global economic rebound, remain relatively firm," said SMBC Nikko Securities general manager of equities Hiroichi Nishi. The dollar remained firm against the Japanese currency in early Asian trade, standing at 89.48 yen against 89.45 yen in New York Monday afternoon. The euro fetched 119.72 yen and $1.3379, slightly up from 119.65 yen and $1.3376 in US trade. A strong yen is negative to Japanese exporters as it erodes their repatriated income. US stocks had a mixed day on Monday. The Dow Jones Industrial Average finished with a gain of 18.89 points (0.14 percent) at 13,507.32 but other leading indices closed in the red.