Japanese
stocks rose for a third day after a weaker yen boosted the earnings
outlook for exporters and as investors digested the Group of 20’s
statement on the global outlook.
The
Topix index rose 1 percent to 1,324.30 as of 9:04 a.m. in Tokyo, with
all but four of its 33 industry groups climbing. The Nikkei 225 Stock
Average jumped 1 percent to 16,343.55. The yen traded at 113.74 per
dollar, after dropping 0.9 percent on Friday.
Policy makers from Japan and China have indicated the need for more fiscal stimulus to combat a global slowdown.
E-mini
futures on the Standard & Poor’s 500 Index slipped 0.1 percent
after the underlying equity gauge closed 0.2 percent lower on Friday.
Data
released in Tokyo Monday showed industrial production rose 3.7 percent
in January from December, though fell 3.8 percent from a year earlier.
Retail sales dropped 1.1 percent from December.
Source: Bloomberg
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