Japanese stocks rose
after U.S. equities climbed to a record and a report showed Asia™s
second-biggest economy exited recession last quarter.
Banks, insurers and
brokerages led gains among industry groups. Yokohama Rubber Co. jumped
4.8 percent as the tiremaker raised its forecast dividend payments.
Asics Corp. tumbled 9.9 percent after the sportswear maker forecast
profit that missed analyst estimates. Kuraray Co. dropped 2.1 percent
after full-year net income forecasts missed estimates.
The Topix index gained
0.8 percent to 1,460.95 at the trading break in Tokyo, with all but
five of its 33 industry groups rising. The measure climbed 2.3 percent
last week. The Nikkei 225 Stock Average advanced 0.7 percent to
18,031.84. The yen added 0.1 percent to 118.61 per dollar, strengthening
for a third day.
Japan™s economy
expanded 2.2 percent in the fourth quarter on an annualized basis, after
contracting the previous two periods. The median expectation of 32
economists surveyed by Bloomberg before the provisional data was for
growth of 3.7 percent. An update on industrial production is due later
in the day.
Source : Bloomberg
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