Japanese stocks rose
for a second day as energy explorers rallied on higher crude oil prices,
and as investors await a Federal Reserve decision on U.S. interest
rates.
The Topix index added 1
percent to 1,486.72 as of 9:02 a.m. in Tokyo, with all but one of its
33 industry groups rising. The Nikkei 225 Stock Average increased 1.1
percent to 18,379.16. The Fed announces its interest rate review
Thursday.
E-mini futures on the
Standard & Poor’s 500 Index slipped 0.2 percent after the underlying
equity measure rose 0.9 percent on Wednesday, closing at its highest
level in four weeks.
Speculation has
increased that the Fed will delay a rate increase as China ignited
concern that its slowdown could weigh on global growth. While investors
remain confident the central bank will raise borrowing costs this year,
traders are pricing in a 28 percent chance of action on Thursday, down
from 50 percent before China’s currency devaluation last month. Odds of a
move at the December meeting are about 64 percent.
Source : Bloomberg
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