Japanese stocks rose, with the Topix index headed for its first gain this week, after calm returned to global markets as China halted trading for a two-day holiday. Energy explorers led gains.
The Topix gained 1.4 percent to 1,486.33 as of 9:02 a.m. in Tokyo as all of its 33 industry groups rose. The Nikkei 225 Stock Average added 1.4 percent to 18,345.71. The yen traded at 120.57 per dollar after weakening 0.8 percent on Wednesday. The rout in global stocks let up Wednesday, with U.S. equities surging in late trading to halt a two-day slump after Chinese shares ended their last day of trading this week with the smallest loss since mid-August.
Futures on the Standard & Poor’s 500 Index added 0.3 percent after the underlying measure rose 1.8 percent on Wednesday. The Stoxx Europe 600 Index added 0.3 percent.
A rout in global equities last month, sparked by China’s devaluation of its currency, erased more than $5.7 trillion from the value of global shares amid growing concern that the world’s second-biggest economy may be in worse shape than analysts had estimated.
Source : Bloomberg