Japanese stocks jumped the most in six weeks as the yen weakened against the dollar after the Federal Reserve said it will be patient on the timing of U.S. interest-rate increases.
The Topix added 2.6 percent to 1,386.62 at 9:02 a.m. in Tokyo, headed for the biggest jump since Nov. 4. All of its 33 industry groups rose. The Nikkei 225 Stock Average surged 2.2 percent to 17,187.13. The yen traded at 118.76 per dollar today after weakening 1.9 percent yesterday. U.S. stocks advanced the most since 2013 as Chair Janet Yellen said the Fed is unlikely to move before the end of April and that borrowing costs will remain low for a œlong time.
Futures on the Standard & Poors 500 Index were little changed today. The underlying U.S. equity measure jumped 2 percent yesterday after the Fed replaced an earlier pledge to keep borrowing costs near zero for a œconsiderable time, and raised its assessment of the labor market.
The U.S. consumer price index dropped 0.3 percent in November, the most since December 2008, after being little changed the prior month, a Labor Department report showed yesterday. The retreat was led by declining fuel costs.
Source : Bloomberg