Japanese stocks rose,
boosted by exporters, as the yen fell for a seventh day after data
showed the U.S. economy grew at a faster pace than previously estimated.
The Topix index
advanced 0.8 percent to 1,376.64 at 9:02 a.m. in Tokyo, extending last
week’s 1.6 percent gain, with all 33 industry groups climbing. The
Nikkei 225 Stock Average added 0.8 percent to 17,140.68. The U.S.
economy expanded 1.4 percent in the fourth quarter compared with a
previously estimated 1 percent, revised data showed Friday, bolstering
the Federal Reserve’s case for increasing borrowing costs. The yen slid
0.3 percent to 113.45 per dollar on Monday, heading for the longest
streak of declines since October.
Futures on the
Standard & Poor’s 500 Index added 0.2 percent. The underlying U.S.
equity gauge capped a 0.7 percent weekly loss on Thursday, its first
such decline in six weeks. The U.S. market was closed Friday for a
holiday.
Source : Bloomberg
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