Japanese stocks rose for a third day as machine orders surged more than expected ahead of a central bank monetary policy review and after the yen weakened as U.S. equities climbed to their highest level in 2016.
The Topix index gained 1.2 percent to 1,375.78 at 9:01 a.m. in Tokyo, with about 19 shares rising for each that fell. The gauge posted its first weekly decline in four weeks last week, after jumping 15 percent over the preceding three weeks. The Nikkei 225 Stock Average added 1.3 percent to 17,151.73 on Monday. The yen traded at 113.80 to the dollar after losing 0.6 percent on Friday. It also fell against the euro on Friday.
Japan’s core machine orders jumped 15 percent in January from a month earlier, beating December’s 4.2 percent increase and higher than economist forecasts for a 1.9 percent gain.