Tokyo - Japan markets opened up Monday, largely over reports that company earnings may not be as bad as expected.

The Nikkei 225 Stock Average rose 72.64 points, or 0.8 per cent, to 8,766.46 at 9:36 am local time. The broader Topix index climbed 8.62, or 1 per cent, to 902.91.

Sony Corp advanced 2.3 per cent, while Panasonic Corp climed 6.6 per cent. Japan's biggest steelmakers - Nippon Steel Corp and JFE Holdings - were expected to boost annual earnings targets.

In currency markets, the dollar was quoted at 101.50-55 yen, up from Friday's quote of 101.03-06 yen.

The euro remained almost unchanged and was quoted at 1.3442-47 dollars, as compared to Friday's 1.3444-47 dollars.

On Friday, Tokyo stocks climbed after an overnight surge on Wall Street to end trading up almost 3 per cent as investors bought back shares battered by the previous day's losses. The Nikkei jumped 235.37 points, or 2.78 per cent, to close at 8,693.82. (dpa)