Japan Topix Index Rises on U.S. Data; Mitsui Fudosan TumblesJapan Topix index rose for a fifth day, headed toward its highest close in almost two months, after U.S. data added to signs the recovery in the world��s largest economy is gathering pace.

Construction companies Shimizu Corp. and Kajima Corp. were among the biggest advances on the Nikkei 225 Stock Average after a report the government may extend tax benefits for investment in city development. Nippon Kayaku Co. jumped 4.5 percent after Nomura Holdings Inc. raised its rating on the maker of pharmaceuticals and explosives. Mitsui Fudosan Co., Japan��s No. 1 developer, headed for its steepest drop in a year after announcing the largest share sale by a property company in at least four decades.

The Topix climbed 0.2 percent to 1,197.37 at the trading break in Tokyo, poised for its highest close since April 4. About five shares rose for every three that fell. The Nikkei 225 was little changed at 14,643.07. The Standard & Poor��s 500 Index advanced to a record yesterday.

Futures on the S&P 500 were little changed today. The measure rose 0.6 percent yesterday after resuming trading following a holiday.

 

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