TOKYO (Kyodo) -- The yen sank to a three-month low in the lower 153 zone against the U.S. dollar early Monday amid political uncertainty in Japan after the country's ruling coalition lost its majority in the general election the previous day.

Tokyo stocks opened lower but turned higher in early trading, tracking a rise late last week of the technology-heavy Nasdaq index, while exporter issues were boosted by the yen's decline.

At 9 a.m., the dollar fetched 152.95-96 yen compared with 152.27-37 yen in New York and 151.94-96 yen in Tokyo at 5 p.m. Friday.

The euro was quoted at $1.0795-0799 and 165.11-18 yen against $1.0791-0801 and 164.30-40 yen in New York and $1.0823-0825 and 164.45-49 yen in Tokyo late Friday afternoon.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 633.77 points, or 1.67 percent, from Friday to 38,547.69. The broader Topix index was up 37.55 points, or 1.43 percent, at 2,655.87.

On the top-tier Prime Market, gainers were led by marine transportation, electric appliance and transportation equipment issues.