Japanese stocks climbed, after the Topix index posted its steepest quarterly drop in five years, as non-bank lenders and precision instrument makers advanced.
The Topix added 0.7 percent to 1,421.52 as of 9:03 a.m. in Tokyo, gaining for a second day after plunging 4.4 percent on Tuesday. The measure slid 13 percent in the three months through Sept. 30, the biggest decline since the June quarter of 2010. The Nikkei 225 Stock Average rose 0.4 percent to 17,457.13 on Thursday, after retreating 14 percent last quarter.
The Standard & Poor’s 500 Index climbed 1.9 percent Wednesday, paring its worst quarterly rout in four years. Mixed messages on Federal Reserve interest-rate policy combined with worries of a China slowdown sent the S&P 500 to consecutive monthly declines while creating the most turbulent period for stocks in years.
E-mini futures on the U.S. benchmark measure slipped 0.2 percent Thursday.
The Tankan index of sentiment among large manufacturers fell to 12 in the third quarter, from 15 in the previous three months, the Bank of Japan said. Economists had expected a reading of 13. Big companies across all industries plan to boost capital expenditure by 10.9 percent this fiscal year, more than the median economist estimate of 8.7 percent.
Source : Bloomberg