Japanese stocks rose for a seventh day after the yen weakened as a report showed U.S. inflation firmed and Federal Reserve Chair Janet Yellen said she expects to raise interest rates this year.
Toyota Motor Corp., which gets more than three-quarters of its sales overseas, was the biggest boost to the Topix index. Tokyo Electric Power Co. jumped 5.1 percent after a report the utility won an order to build a gas-fired power plant and desalination facility in Qatar. Takata Corp. slumped 3.8 percent after carmakers announced additional recalls in Japan and Australia of vehicles with the company’s air bags.
The Topix index added 0.7 percent to 1,658.95 at the break in Tokyo, extending last week’s gain of 2.5 percent. All but five of the measure’s 33 industry groups advanced. The Nikkei 225 Stock Average climbed 0.7 percent to 20,407.02, headed for the highest close since 2000. The yen fell 0.1 percent to 121.67 per dollar after dropping 0.4 percent on Friday.