Japanese stocks rose,
with the Topix index extending its third weekly gain, after U.S. jobless
claims dropped and the yen weakened.
The Topix added 0.8
percent to 1,366.90 as of 9:01 a.m. in Tokyo, heading for a 2.4 percent
advance this week. All 33 industry groups climbed. The Nikkei 225 Stock
Average rose 0.8 percent to 16,924.79. The yen traded at 115.19 per
dollar today after falling 1.4 percent over the previous two days.
Futures on the
Standard & Poors 500 Index were little changed today. The U.S.
equity measure added 0.4 percent yesterday as the C vowed to increase
stimulus efforts if needed and a drop in American unemployment claims
bolstered optimism in the economy.
First-time jobless
claims dropped 10,000 to a three-week low of 278,000 in the week ended
Nov. 1, a report showed. Labor Department figures today may show nonfarm
payrolls rose 235,000 last month and the jobless rate held at a
six-year low.
The Topix fell 1.1
percent yesterday on speculation shares had risen too fast since the
Bank of Japan on Oct. 31 expanded stimulus and the nations pension fund
said it will boost its stock holdings.
Of the companies on
the Topix that released quarterly results from Oct. 1 through yesterday
and for which Bloomberg had estimates, 63 percent beat expectations for
profit.
Source: Bloomberg
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