Japan’s Topix Heads for Best Weekly Winning Streak in Two Years

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Japanese stocks rose, with the Topix index heading for its longest weekly winning streak since February 2013, after a drop in U.S. retail sales boosted speculation the Federal Reserve may delay raising interest rates.

The Topix added 0.2 percent to 1,550.27 as of 9:01 a.m. in Tokyo, heading for an eight-week gain. The Nikkei 225 Stock Average climbed 0.4 percent to 19,062.23, set to extend a 15-year high. U.S. stocks rebounded from a two-day selloff after the unexpected decline in retail sales.

Futures on the Standard & Poor’s 500 Index added 0.1 percent after the underlying gauge jumped 1.3 percent Thursday, the most in a month.

Japanese data on February industrial production is expected at 1:30 p.m. in Tokyo.

Source: Boomberg