18 JUL 2012 TOKYO STOCKS OPEN UP 0.47% DATE: 18/07/2012 TOKYO: Tokyo stocks opened 0.47 percent higher on Wednesday after Wall Street rebounded amid hopes for further monetary easing in the United States. The Nikkei 225 index at the Tokyo Stock Exchange opened up 41.15 points at 8,796.15. In New York the Dow Jones Industrial Average closed at 12,805.54 on Tuesday, gaining 78.33 points (0.62 percent) and more than erasing Monday's losses. The rebound was triggered after Federal Reserve chief Ben Bernanke gave a gloomy assessment of the economy to Congress and said the Fed would act if the situation worsened. "The Nikkei will take its cue from Wall Street, but expectations for further US easing are not that strong," Hiroichi Nishi, general manager of equities at SMBC Nikko Securities, told Dow Jones Newswires. The euro fetched $1.2292 and 97.17 yen in early Asian trade, almost flat from $1.2292 and 97.23 yen in New York late Tuesday. The dollar was at 79.02 yen against 79.10 yen in new York. POWERED BY: THE ECONOMIC NEWS www.goldennifty.com
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