TOKYO, Aug. 7- (Kyodo)—Tokyo stocks opened higher Tuesday, supported mainly by a sharp rebound in U.S. equities overnight in New York.
In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 102.83 points, or 0.61 percent, to 17,017.29. The Topix index of all First Section issues on the Tokyo Stock Exchange was up 8.15 points, or 0.49 percent, to 1,676.19. The Second Section rose.
Stocks rallied after the benchmark Nikkei declined for two straight sessions. The index recovered the 17,000 mark for the first time since Friday.
Securities, glass and ceramics and bank issues led the advance.
Export-oriented issues took heart from the recovery on Wall Street and the depreciation of the yen against other major currencies. Machinery, technology and carmaker stocks were also higher, while mining, real estate and wholesale issues weakened.
In New York on Monday, the Dow Jones Industrial Average rose 286.87 points, or 2.18 percent, the largest one-day gain so far this year, to 13,468.78. The tech-heavy Nasdaq Composite Index was up 36.08 points, or 1.44 percent, to 2,547.33.
The U.S. dollar traded in the upper 118 yen range early Tuesday in Tokyo after rallying in overnight trading overseas on the back of a strong rebound in U.S. share prices.
At 9 a.m., the dollar was quoted at 118.70-75 yen compared with Monday's 5 p.m. quotes of 118.83-93 yen in New York and 117.71-74 yen in Tokyo.
The euro fetched $1.3808-3813 and 163.96-164.01 yen against Monday's 5 p.m. quotes of $1.3788-3798 and 163.92-164.02 yen in New York and $1.3812-3815 and 162.61-65 yen in Tokyo.
In New York overnight, the dollar rallied to the upper 118 yen range as a more than 2 percent rebound in the Dow Jones Industrial Average warmed investor sentiment.
Speculation that investors may resume yen-funded carry trades also pulled the yen down, dealers said.
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