Nikkei Futures Climb as Yen Maintains Slide While Gold Retreats

Bloomberg (03/12) -- Japanese index futures climbed as the yen traded near a six-month low versus the dollar. Futures on stock gauges from Sydney to South Korea fell after U.S. equities declined with Treasuries and gold slumped.

Nikkei 225 Stock Average futures rose to 15,830 by 3 a.m. in Osaka and traded at 15,750 in Chicago after the index closed at 15,655.07 yesterday. The yen was little changed at 102.92 per dollar after breaching 103 yesterday for the first time since May. Futures on Sydney’s S&P/ASX 200 Index dropped 0.6 percent. The Standard & Poor’s 500 Index lost 0.3 percent in New York while 10-year Treasury yields rose five basis points. Gold slid 2.7 percent yesterday and touched an almost five-month low. Japan updates its monetary base today, while Australia is projected to keep key interest rates at a record low. In China, where factory gauges for November exceeded analysts’ estimates, a non-manufacturing index is due as Goldman Sachs Group Inc. predicts next year will deliver the biggest rally since 2009 for Hong Kong-traded stocks. U.S. manufacturing grew at the fastest pace in more than two years last month, as investors review data for clues on the outlook for Federal Reserve stimulus.