Japanese stocks rose, with the Topix index heading for the longest winning streak since August, after the yen fell to a seven-year low and U.S. companies added more workers than forecast.
The Topix advanced 0.2 percent to 1,374.24 as of 9:05 a.m. in Tokyo, rising for a sixth day after closing yesterday at its highest level since 2008. The Nikkei 225 Stock Average rose 0.2 percent to 16,965.24. U.S. stocks gained after Republicans won their first Senate majority in eight years.
Futures on the Standard & Poors 500 Index slipped 0.1 percent today. The equity measure climbed 0.6 percent yesterday to a record after Republicans retained control of the House and won enough seats to reclaim a Senate majority held by Democrats since 2006.
The Topix advanced 7.3 percent over the past three trading sessions after the Bank of Japan expanded stimulus and the nations pension fund said it will boost its stock holdings. The Nikkei Stock Average Volatility Index, tracking the cost of options prices on the Nikkei 225, slumped 10 percent yesterday.
Source : Bloomberg