Japanese stocks rose for a second day, with the Topix index set for its first weekly advance in three periods, as the yen held yesterday��s decline and U.S. factory data signaled strength in the world��s largest economy.
Toyota Motor Corp., the world��s No. 1 carmaker, advanced 1 percent. Mitsui Fudosan Co. and Mitsubishi Estate Co., Japan��s biggest developers, climbed at least 2.8 percent. Sony Corp. was among the largest decliners on the Nikkei 225 Stock Average amid investor disappointment after Chief Executive Officer Kazuo Hirai repeated a vow to make the consumer-electronics company��s struggling TV unit profitable.
The Topix gained 1 percent to 1,181.57 at the trading break in Tokyo, bringing this week��s increase to 1.9 percent. All but three of the 33 industry groups climbed. The Nikkei 225 added 0.9 percent today to 14,473.19. The yen traded at 101.78 per dollar today after weakening 0.4 percent yesterday.
Futures on the Standard & Poor��s 500 Index were little changed today after the U.S. equities benchmark gained 0.2 percent yesterday. Yields on 30-year U.S. Treasuries rose 8 basis points this week to 3.42 percent.
Source : Bloomberg