Japanese
stocks rose ahead of a weekend election as the yen weakened against the
dollar and the U.S. reported the biggest jump in retail sales in eight
months.
The
Topix index advanced 0.1 percent to 1,398.35 as of 9:04 a.m. in Tokyo,
paring this weeks loss to 3.3 percent. The Nikkei 225 Stock Average rose
0.5 percent to 17,344.64. The yen lost 0.3 percent to 119.01 per dollar
after falling 0.7 percent yesterday as data showed U.S. consumers spent
more in November than expected. Crude oil fell below $60 a barrel for
the first time since 2009.
Japan
heads for an election on Dec. 14 after Prime Minister Shinzo Abe last
month called for a referendum on his economic policies. The economy has
been mired in a recession since an April sales-tax increase.
Abes
coalition will win more than a two-thirds majority, the Nikkei
newspaper reported today, citing a survey result and echoing almost
every other media forecast in pointing to a landslide victory.
Source: Bloomberg
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