Tokyo stocks open higher, real estate firms gain

TOKYO, Mar 24: The Nikkei average rose as real estate stocks such as Mitsubishi Estate Co. Ltd. gained ground after a government land price survey underlined views that Japan's economic recovery is steadily progressing.

Nikko Cordial Corp. fell after a newspaper report that Japan's third-biggest brokerage is seeking a controlling stake in Tokyo Star Bank Ltd. Trading in Tokyo Star has been suspended.

Nikko denied the report.

The Nikkei was up 0.21 percent or 34.98 points at 16,524.35 as of 0004 GMT. The broader TOPIX index was up 0.16 percent at 1,682.77.

Reuters