Japanese stocks rose
for a second day as a weakening yen boosted the earnings outlook for
exporters. Insurers, paper makers and machinery manufacturers led gains.
The Topix index added
1.1 percent to 1,595.10 as of 9:02 a.m. in Tokyo as all but two of its
33 industry groups advanced. The dollar strengthened for a second day
against the yen as firming U.S. inflation data bolstered speculation the
American economy can withstand higher interest rates. Investors are
waiting the results of a Bank of Japan policy review on Thursday, after
Wednesday’s release of minutes from the Federal Reserve’s last meeting.
The Nikkei 225 Stock
Average gained 0.9 percent to 19,814.43. The yen traded at 123.44 per
dollar after weakening 0.2 percent on Tuesday. E-mini futures on the
Standard & Poor’s 500 Index lost less than 0.1 percent after the
underlying gauge slipped 0.1 percent on Tuesday, erasing an earlier gain
of as much as 0.7 percent.
Source: Bloomberg
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