Japanese shares rose, with the Topix index poised to end the year with its fourth straight gain, as equities tracked a rally in the U.S. and Europe.
The Topix rose 0.5 percent to 1,551.59 as of 9:01 a.m. in Tokyo on the final trading day of the year, with all but one of the 33 industry groups advancing. The measure is heading toward a 10 percent gain for 2015, adding to a 93 percent increase over the past three years. For the quarter, the gauge is up 9.9 percent. The Nikkei 225 Stock Average added 0.4 percent to 19,065.50. The yen traded at 120.51 per dollar, slipping for a third day.
The Standard & Poor’s 500 Index jumped 1.1 percent on Tuesday to restore its gain for the year and nearly erase a monthly decline as retailers and technology shares led a rally in light trading. The Stoxx Europe 600 Index climbed 1.4 percent.
Oil climbed above $37 a barrel Tuesday amid forecasts for falling U.S. stockpiles, with West Texas Intermediate crude advancing 2.9 percent while Brent traded 3.2 percent higher. WTI slid 1.7 percent to $37.24 in trading Wednesday.
Japanese shares are among the best performing major stock indexes this year in dollar terms. The measure is still 8.3 percent below its peak in August after China’s shock currency devaluation and the specter of Federal Reserve interest rate hikes sparked a global equity selloff.
Source : Bloomberg