TOKYO stocks have opened 0.99 per cent higher following gains on Wall Street after the Federal Reserve held steady on its policy of economic stimulus.
The Nikkei 225 index at the Tokyo Stock Exchange was up 123.77 points to 12,592.00 at the start of trading on Thursday.
The Nikkei is likely to rise on expectations of aggressive easing steps by the Bank of Japan (BoJ) under the new governor's leadership, said Kenichi Hirano, market analyst at Tachibana Securities.
"The US easing stance will remain intact for a while and the BoJ will embark on anti-deflation measures," he told Dow Jones Newswires.
Focus is on what the new BoJ governor Haruhiko Kuroda, who took office on Wednesday, has to say at a press conference later on Thursday, he said.
Tokyo markets were closed on Wednesday for a public holiday.
As stock trading resumed on Thursday, the Tokyo market largely discounted government data that showed Japan fell into a trade deficit of Y777.5 billion ($A7.83 billion) in February against the year-before surplus of Y25.8 billion.
The euro rebounded modestly on Wednesday after sharp losses caused by the Cyprus bailout drama, and held onto gains late in the day as the Federal Reserve stuck firmly to its easing policies.
The euro bought $US1.2929 and Y124.24 in early Asian trade on Thursday, compared with $US1.2937 and Y124.17.
The US dollar fetched Y96.06 against Y95.98.
US stocks recorded solid gains on Wednesday with the Dow Jones Industrial Average gaining 0.39 per cent to 14,511.73.
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