Tokyo stocks open up 0.84%

Tokyo stocks opened 0.84 percent higher on Monday, boosted by a weak yen and yet another record-setting advance on Wall Street after a solid US jobs report last week.

The Nikkei 225 index gained 127.07 points to 15,204.31 at the start, with investors largely discounting mixed economic data released just before the market opening.

Revised data from the Cabinet Office confirmed the world`s third largest economy posted the strongest expansion in more than two years in the three months to March.

Japan`s economy grew 1.6 percent in the first quarter of 2013 as consumers stepped up shopping to before the April sales tax rise.

Data from the finance ministry showed Japan`s current account surplus in April narrowed by 76.1 percent from a year earlier to 187.4 billion yen (USD 1.8 billion).

Japan maintained a surplus in the current account, the broadest measure of the nation`s trade with the rest of the world, for the third consecutive month, but the amount was much smaller than market expectations of more than 300 billion yen.

In New York, the Dow and the S&P 500 Friday again powered to record highs after a Labor Department employment report showed solid jobs growth for May.

The Dow Jones Industrial Average jumped 0.52 percent to 16,924.28, notching its second record high in a row.

The S&P 500 gained 0.46 percent to 1,949.44, its third straight record close.

The Labor Department said Friday that US employers created more than 200,000 jobs for the fourth straight month in May, showing the jobs market was steadily improving.

The dollar was firm in early Asian trade on Monday, changing hands at 102.60 yen against 102.50 yen in New York Friday afternoon.

The euro bought USD 1.3646 and 139.98 yen compared with USD 1.3641 and 139.80 yen in US trade.