Japan stocks open 0.56 percent higher

TOKYO: Tokyo stocks opened 0.56 percent higher on Monday as the yen dropped to its lowest level in more than five years.

The benchmark Nikkei 225 index was up 90.28 points to 16,269.22 at the start of trade.

"Supply and demand conditions are good due to robust demand from foreign investors and signs of increased buying appetite of Japanese investors," said Hiroichi Nishi, general manager of equities at SMBC Nikko Securities.

The dollar fetched 105.33 yen early Monday compared with 105.13 yen in New York Friday afternoon.

A weak yen is good for Japan´s exporters, making Japanese goods overseas more competitive and inflating repatriated earnings.

The euro bought $1.3748 and 144.78 yen against $1.3743 and 144.37 yen in New York.