/www.fxserver.com/ TOKYO (AP) -- Tokyo stocks rose Wednesday morning as investors were encouraged by gains on Wall Street. The dollar was higher against the yen.
The benchmark 225-issue Nikkei Stock Average was up 134.17 points, or 1.63 percent, to 8,372.93 points at the close of the morning session. The Nikkei dropped 196.31 points, or 2.33 percent, Tuesday.
The dollar was trading at 119.98 yen at 11 a.m. Wednesday, up 0.30 yen from late Tuesday, but below the 120.14 yen it bought in late New York trading.
In Tokyo, a rebound in U.S. stocks prompted a buying spree. Investors looking for bargains picked up technology and exporter blue chips, which had suffered steep declines the previous day.
Automakers Toyota and Honda, as well as consumer electronics makers Sony and Toshiba posted gains in the morning session.
Major banks, including Sumitomo Mitsui Financial Group and UFJ, were also up.
In New York Tuesday, investors took heart from a variety of developments, including a somewhat positive consumer confidence report and reports of a civilian uprising in southern Iraq.
The Dow Jones industrial average closed up 65.55, or 0.8 percent, at 8,280.23. The Nasdaq composite index gained 21.23, or 1.6 percent, to 1,391.01.
The broader Tokyo Stock Price Index rose 7.83 points, or 0.96 percent, at 820.12 points. The TOPIX, which includes all first-section issues, fell 19.14 points, or 2.3 percent Tuesday.
In other currencies, the euro bought $1.0649 Wednesday morning, down from $1.0696 late Tuesday. Against the yen, the euro traded at 127.69 yen, down from 128.04 yen.
The yield on Japan's benchmark 10-year government bond remained flat Wednesday morning. It closed Tuesday at 0.7150 percent and was priced at 100.74.