Japanese
stocks rose as U.S. economic data provided more support for the Federal
Reserve to raise interest rates next month, boosting the dollar against
the yen.
The
Topix index climbed 0.4 percent to 1,601.12 as of 9:01 a.m. in Tokyo,
with insurers leading gains while paper makers declined. The Nikkei 225
Stock Average added 0.5 percent to 19,951.19, near a three-month high.
The yen traded at 122.69 per dollar after weakening on Wednesday as a
report showed U.S. durable goods orders rose more than expected.
The
dollar gained after orders for non-military capital goods excluding
aircraft rose 1.3 percent, the most in three months. Traders are pricing
in a 72 percent chance of a rate hike at the Fed meeting on Dec. 15-16.
E-mini
futures on the Standard & Poor’s 500 Index added 0.1 percent after
the underlying gauge closed little changed. U.S. trading was light ahead
of Thursday’s Thanksgiving holiday in the U.S.
Source: Bloomberg
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