Japanese stocks rose, after the Topix
index posted its biggest weekly rally in 18 months, amid optimism over
U.S. earnings and after the European Central Bank gave most lenders a
clean bill of health.
The Topix advanced 0.7 percent to
1,251.13 as of 9:01 a.m. in Tokyo after jumping 5.5 percent last week,
the most since April 2013. All but one of the 33 industry groups on the
measure climbed today. The Nikkei 225 Stock Average added 0.8 percent to
15,414.89. The Bank of Japan and the Federal Reserve are scheduled to
announce policy decisions this week.
Futures on the Standard & Poor’s 500
Index rose 0.1 percent today. The equity measure added 0.7 percent on
Oct. 24, capping a 4.1 percent weekly surge, as companies from Procter
& Gamble Co. to Microsoft Corp. climbed after reporting earnings.
The ECB’s study of bank balance sheets
found that none of Europe’s largest lenders lacked the ability to
withstand times of economic stress.
The Topix index tumbled 7.7 percent
through last week from a six-year high in September, pushing
short-selling on Tokyo’s bourse this month to the highest level on
record. Since 2009, shares have rallied an average 9.7 percent over the
three months following surges in bearish bets, according to data
compiled by Bloomberg.
Source: Bloomberg
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