Japanese stocks rose for an eighth day after closing Monday at the highest level since 2007, with oil producers and utilities leading the advance.
The Topix index added 0.1 percent to 1,661.21 as of 9:02 a.m. in Tokyo. The Nikkei 225 Stock Average gained 0.2 percent to 20,454.46, extending a 15-year high. U.S. cash-equity markets were closed Monday for the Memorial Day holiday. The yen slipped 0.1 percent to 121.69 per dollar.
The nation’s exports rose more than forecast in April, a report showed Monday, after data last week indicated gross domestic product expanded for a second quarter. The Topix, which has climbed 18 percent this year, trades at 16.1 times estimated earnings, compared with 18 times for the Standard & Poor’s 500 Index.
Suntory Beverage & Food Ltd., which sells PepsiCo Inc. drinks in Asia, rose 1.4 percent after saying it will buy Japan Tobacco Inc.’s vending machines for about 150 billion yen ($1.2 billion) to add to its own, closing a distribution gap with Coca-Cola Co. in the country.