Tokyo stocks open up 0.52%

TOKYO (AFP) - Tokyo stocks opened 0.52 per cent higher on Wednesday after Wall Street powered to new record closings.

The Nikkei 225 index was up 80.03 points at 15,406.23 at the start.

New York stocks Tuesday barrelled higher to new records, opening the third quarter with big gains following strong US auto sales and Chinese manufacturing data.

The Dow Jones Industrial Average gained 0.77 per cent to 16,956.07, while the S&P 500 shot up 0.67 per cent to 1,973.32. Both were record closing highs.

The fresh records in the US equity market lifted the dollar against the yen, a positive factor for Japanese exporters.

"Market momentum remains strong," said Mizuho Securities senior technical analyst Yutaka Miura.

"Upcoming US jobs data on Friday should help to reinforce hopes that the US economic recovery remains on track," he told Dow Jones Newswires.

The dollar was at 101.56 yen in early Tokyo trade Wednesday, compared with 101.53 yen in New York Tuesday afternoon.

The euro bought US$1.3680 and 138.93 yen against US$1.3677 and 138.88 yen.

The greenback has plunged to a multi-year low against the British pound, following a surprise rise in British manufacturing data for June.

The pound was buying US$1.7144 early Wednesday after hitting US$1.7166 on Tuesday, the highest level since October 2008.