Tokyo stocks open 1.11% higher on bigger-than-expected stimulus from ECB

TOKYO (AFP) - Tokyo stocks opened 1.11 per cent higher on Friday after European and US stocks rallied on the ECB's announcement of a bigger-than-expected stimulus programme.

The Nikkei 225 index at the Tokyo Stock Exchange rose 191.61 points to 17,520.63 at the start.

The European Central Bank said on Thursday it would inject over 1.0 trillion euros into the stagnant eurozone economy.

The announcement of a 60 billion euros per month in quantitative easing through September 2016 exceeded market expectations by 10 billion euros and boosted European stocks.

Across the Atlantic, Wall Street's top indices added 1.5 per cent or more each, rising on a surge in bank and tech shares.

The Dow Jones Industrial average was up 1.48 per cent, the broad-based S&P 500 1.53 percent and the Nasdaq Composite 1.78 percent.

The euro, which slumped to an 11-year low of US$1.1316 on Thursday, was at US$1.1345 early Friday against US$1.1359 in New York Thursday afternoon.

The European common currency bought 134.73 yen against 134.63 yen in US trade.

The dollar was at 118.62 yen compared with 118.52 yen in New York.