Japanese
stocks jumped the most in six weeks as the yen weakened against the
dollar after the Federal Reserve said it will be patient on the timing
of U.S. interest-rate increases.
The
Topix added 2.6 percent to 1,386.62 at 9:02 a.m. in Tokyo, headed for
the biggest jump since Nov. 4. All of its 33 industry groups rose. The
Nikkei 225 Stock Average surged 2.2 percent to 17,187.13. The yen traded
at 118.76 per dollar today after weakening 1.9 percent yesterday. U.S.
stocks advanced the most since 2013 as Chair Janet Yellen said the Fed
is unlikely to move before the end of April and that borrowing costs
will remain low for a œlong time.
Futures
on the Standard & Poors 500 Index were little changed today. The
underlying U.S. equity measure jumped 2 percent yesterday after the Fed
replaced an earlier pledge to keep borrowing costs near zero for a
œconsiderable time, and raised its assessment of the labor market.
The
U.S. consumer price index dropped 0.3 percent in November, the most
since December 2008, after being little changed the prior month, a Labor
Department report showed yesterday. The retreat was led by declining
fuel costs.
Source : Bloomberg
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