Japanese Stocks Follow U.S. Shares Higher as Insurers Advance

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Japanese shares rose, with the Topix index extending a three-week high, after U.S. stocks climbed to records amid optimism about the gathering pace of recovery in the world™s largest economy. Insurers advanced.

The Topix gained 0.4 percent to 1,433.50 as of 9:02 a.m. in Tokyo, with all but three of 33 industry groups increasing. The measure is poised for its highest close since Dec. 9. The Nikkei 225 Stock Average added 0.4 percent to 17,893.83 today. The yen lost 0.1 percent to 120.44 per dollar after falling 0.2 percent on Dec. 26. The Standard & Poor™s 500 Index, the Dow Jones Industrial Average and the Russell 2000 Index all posted all-time highs Dec. 26.

Futures on the S&P 500 were little changed. The underlying equity gauge rose 0.3 percent Dec. 26 as a rally in equities continued through one of the slowest trading days of the year.

Source : Bloomberg

Asian Stocks Advance Amid Optimism in U.S Economic Recovery

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Asian stocks rose, with the regional gauge heading for a 2 1/2-week high, amid optimism in the strength of the world™s largest economy.

The MSCI Asia Pacific Index gained 0.2 percent to 138.04 as of 9:01 a.m. in Tokyo, before markets opened in Hong Kong and China. Australia™s S&P/ASX 200 Index added 0.5 percent, on volume 62 percent below the 30-day intraday average, as it resumed trading after a two-day Christmas break. Shares of AirAsia Bhd. may move after one of its planes carrying 162 people went missing.

American equity gauges climbed to records last week and a gauge of volatility slumped as data showed U.S. gross domestic product increased at a 5 percent annual rate from July through September, the fastest pace since 2003. Futures on the Standard & Poor™s 500 Index were little changed today.

Japan™s Topix index advanced 0.4 percent. South Korea™s Kospi index fell 0.6 percent. New Zealand™s NZX 50 Index slipped from an all-time high, dropping 0.1 percent.

Data at the weekend showed Chinese industrial company profits fell the most in two years last month, adding to signs of a deepening slowdown in Asia™s largest economy. China is headed for its slowest annual growth since 1990 amid industrial overcapacity, a housing slump and factory-gate deflation.

Source : Bloomberg

Euro Approaches Two-Year Low on Greece Early Election Concern

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The euro traded 0.1 percent from a two-year low as Greece™s prime minister attempts to get his presidential candidate confirmed and avoid an early parliamentary election that risks severing the nation™s international lifeline.

The currencies of Australia and New Zealand fell after data showed industrial profits dropped in China, the South Pacific nations™ biggest trading partner. The yen weakened for a second day amid speculation Japan™s central bank will introduce more currency-depreciating stimulus to revive growth.

The euro fell 0.1 percent to $1.2176 as of 9:15 a.m. Tokyo time. It depreciated to $1.2165 on Dec. 23, the weakest level since August 2012. The yen slipped to 120.44 against the greenback, from 120.31 on Dec. 26.

Australia™s dollar declined 0.1 percent to 81.13 U.S. cents. New Zealand™s currency fell 0.2 percent to 77.47 cents.

Source: Bloomberg