Japanese stocks
climbed, after the Topix index posted its steepest quarterly drop in
five years, as non-bank lenders and precision instrument makers
advanced.
The Topix added 0.7
percent to 1,421.52 as of 9:03 a.m. in Tokyo, gaining for a second day
after plunging 4.4 percent on Tuesday. The measure slid 13 percent in
the three months through Sept. 30, the biggest decline since the June
quarter of 2010. The Nikkei 225 Stock Average rose 0.4 percent to
17,457.13 on Thursday, after retreating 14 percent last quarter.
The Standard &
Poor’s 500 Index climbed 1.9 percent Wednesday, paring its worst
quarterly rout in four years. Mixed messages on Federal Reserve
interest-rate policy combined with worries of a China slowdown sent the
S&P 500 to consecutive monthly declines while creating the most
turbulent period for stocks in years.
E-mini futures on the U.S. benchmark measure slipped 0.2 percent Thursday.
The Tankan index of
sentiment among large manufacturers fell to 12 in the third quarter,
from 15 in the previous three months, the Bank of Japan said. Economists
had expected a reading of 13. Big companies across all industries plan
to boost capital expenditure by 10.9 percent this fiscal year, more than
the median economist estimate of 8.7 percent.
Source : Bloomberg
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