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Tokyo stocks open 0.73% higher

Published on May 8, 2014 9:59 AM

TOKYO (AFP) - Tokyo stocks opened up 0.73 per cent Thursday after the dollar firmed on comments by the Federal Reserve chief that the stimulus taper would continue steadily.

The Nikkei 225 index was up 102.96 points at 14,136.41 at the start.

The dollar edged higher on Wednesday after Federal Reserve Chair Janet Yellen said that the US economy was on track for solid growth in the second quarter and that tapering of stimulus measures would push ahead.

But the move upward was tempered by Yellen's reiteration of the Fed's overall dovish stance, saying that the economy still needed the help of ultra-low interest rates and that there was still no threat from inflation.

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