Tokyo stocks were higher Monday morning, tracking gains on Wall Street late last week, while sentiment was lifted by a string of positive earnings reports from Japanese firms.

The 225-issue Nikkei Stock Average rose 144.64 points, or 0.49 percent, from Friday to 29,754.61. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 8.06 points, or 0.39 percent, at 2,048.66.

Gainers were led by pulp and paper, metal product, and service issues.

The U.S. dollar was relatively weak in the upper 113 yen range, as the currency was sold after U.S. consumer sentiment in early November, released by the University of Michigan, declined to its lowest level in 10 years on concerns over rapid inflation, dealers said.

At noon, the dollar fetched 113.84-85 yen compared with 113.86-96 yen in New York and 114.04-06 yen in Tokyo at 5 p.m. Friday.

The euro was quoted at $1.1460-1465 and 130.45-46 yen against $1.1438-1448 and 130.33-43 yen in New York and $1.1450-1451 and 130.58-62 yen in Tokyo late Friday afternoon.

Stocks were higher from the outset, but remained top-heavy throughout the morning as the Nikkei benchmark inched up toward the psychological threshold of 30,000.

"The market was lifted by strong earnings from firms such as Tokyo Electron Ltd. and restaurant chain Skylark Holdings Co. that additionally pulled up related issues," said Maki Sawada, a strategist at Nomura Securities Co.'s investment content department.

Meanwhile, the market showed limited reaction to weaker-than-expected gross domestic product data in Japan for the July-September period, she said.

The country's economy shrank a real 0.8 percent from the previous quarter, or an annualized 3.0 percent, amid the COVID-19 state of emergency as well as slow car sales and exports due to a global shortage of chips and parts, according to the preliminary data released by the Cabinet Office.

On the First Section, advancing issues outnumbered decliners 1,027 to 1,013, while 139 ended the morning unchanged.

Tokyo Electron rose 860 yen, or 1.5 percent, to 58,490 yen after the firm reported Friday upbeat earnings that surpassed market expectations, and revised upward its forecast for the business year through March from its previous estimate in August.

Among other high-tech shares, Taiyo Yuden added 140 yen, or 2.2 percent, to 6,420 yen, Screen Holdings climbed 100 yen, or 0.9 percent, to 11,580 yen, and Murata Manufacturing gained 97 yen, or 1.1 percent, to 8,675 yen.

Skylark Holdings surged 109 yen, or 7.3 percent, to 1,606 yen, while sushi chain operator Kura Sushi advanced 80 yen, or 2.1 percent, to 3,980 yen.

==Kyodo

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