Japanese shares rose for a second day, led by commodity producers, as the yen weakened and after oil prices surged.
The
Topix index added 1.5 percent to 1,319.31 at 9:03 a.m. in Tokyo, with
10 shares rising each that fell. The Nikkei 225 Stock Average gained 1.5
percent to 16,169.38. The yen traded at 108.70 per dollar, weakening
for a second day after climbing on Monday to the strongest level since
October 2014. Crude rose to a four-month high Tuesday on prospects Saudi
Arabia and Russia may agree to freeze oil production.
The Topix was down 16 percent in 2016 through Tuesday, the second-steepest decline among global markets.
Futures
on the Standard & Poor’s 500 Index were little changed after the
underlying U.S. equity gauge rose 1 percent to a one-week high on
Tuesday.
Data
released Tuesday in Tokyo showed the producer prices index fell 3.8
percent in March from a year earlier, more than economist estimates for a
3.4 percent decline.
Source: Bloomberg
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