Japanese
stocks rose, with the Topix index jumping for the first time in four
days, as a weaker yen boosted exporters while investors awaited a policy
meeting by the European Central Bank.
The
Topix added 1.2 percent to 1,348.68 as of 9:03 a.m. in Tokyo, with all
but one of the 33 industry groups rising. The gauge fell 3.1 percent
over the previous three sessions, after rallying 15 percent in three
weeks. The Nikkei 225 Stock Average advanced 1.2 percent to 16,834.17 on
Thursday. The yen traded at 113.29 per dollar after falling 0.7 percent
on Wednesday. The Standard & Poor’s 500 Index climbed 0.5 percent
on Wednesday ahead of the ECB meeting.
The
ECB on Thursday and the Federal Reserve’s meeting next week may provide
more insight on the potential for further stimulus and the trajectory
of interest rates. The Bank of Japan will also decide on policy on March
15.
West
Texas Intermediate crude climbed 4.9 percent to $38.29 per barrel on
Wednesday after the Energy Information Administration said gasoline
supplies fell last week, more than analyst estimates.
Futures
on the S&P 500 were little changed. The underlying equity gauge’s
gain on Wednesday came amid speculation central banks will continue to
provide stimulus to bolster sluggish global growth.
Source: Bloomberg
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