Japanese shares rose, with the Topix index headed for a seven-week high, as the yen held losses and U.S. stocks climbed to a record after new home sales data boosted optimism about the world��s largest economy.
The Topix climbed 0.9 percent to 1,191.39 as of 9:01 a.m. in Tokyo, poised for its highest close since April 7. All 33 industry groups advanced. The measure gained 1.8 percent last week. The Nikkei 225 Stock Average added 0.8 percent today to 14,576.98. The yen held at 101.97 per dollar after falling 0.2 percent on May 23.
The Standard & Poor 500 Index rose 0.4 percent on May 23 to close above 1,900 for the first time. Sales of new U.S. homes increased 6.4 percent in April, the most since October, to a 433,000 annualized pace from a revised 407,000 in March, Commerce Department data showed. The median forecast of 75 economists surveyed by Bloomberg called for the rate to accelerate to 425,000.
Copy Source: Bloomberg