Japanese stocks rose, with the Topix index rebounding from three days of losses, as metal companies led the advance.Yahoo Japan Corp. was untraded at the open and poised to rise after the nation��s largest Internet portal canceled plans to acquire eAccess Ltd. from SoftBank Corp. for 324 billion yen ($3.2 billion) as part of a strategy to expand in wireless data and voice businesses. The Topix index gained 0.5 percent to 1,155.55 as of 9:05 a.m. in Tokyo, after falling 2.8 percent over the previous three days. The Nikkei 225 Stock Average climbed 0.6 percent today to 14,092.14. The yen held at 101.48 per dollar. Of the Topix companies that posted results from April 1 through yesterday and for which Bloomberg had estimates, 55 percent beat analyst predictions for profit, according to data compiled by Bloomberg.The Topix traded at 1.12 times book value yesterday, compared with 2.63 for the Standard & Poor��s 500 Index and 1.88 for the Stoxx Europe 600 Index. Futures on the S&P 500 slipped 0.1 percent. The U.S. equities benchmark gauge climbed for a second day yesterday as Internet and small-cap shares extended a rebound from losses last week. About 4.9 billion shares changed hands on U.S. exchanges, the second-lowest level of the year.
Source : Bloomberg