TOKYO, March 27, 2023 (BSS/AFP) - Tokyo shares opened higher Monday, despite signs of trouble at another major European lender that renewed fears over the health of the global financial system.

The benchmark Nikkei 225 index rose 0.19 percent, or 51.92 points, to 27,437.17 at the open, while the broader Topix index climbed 0.30 percent, or 5.86 points, to 1,961.18.

The dollar stood at 130.82 yen, against 130.70 yen in New York late Friday.

Major European lender Deutsche Bank saw its shares nosedive by as much as 14 percent on Friday as the cost of insuring against the bank defaulting on its debt spiked.

The gloomy news from across the Atlantic weighed on the US market before Federal Reserve officials issued remarks aimed at stabilising the financial sector.

"The US market grew at the end of last week as St. Louis District Fed President Bullard expressed a positive view on stabilising financial stress," Monex senior market analyst Toshiyuki Kanayama said in a note.

But "uncertainties remain" over the German bank's tumbling stocks, analyst Tsutomu Yamada at AU Kabucom Securities told a Japanese news programme.

The gains on Monday are more of an "automatic rebound" as traders sought to adjust from last week's consecutive falls, Yamada added.

Among major shares in Tokyo, SoftBank Group added 0.26 percent to 4,985 yen and Toyota was up 0.36 percent to 1,790.5 yen.

Uniqlo operator Fast Retailing gained 0.40 percent to 27,480 yen.