Japanese stocks rose, with the Topix index climbing from a 7 1/2-year high, after the yen slid as investors weighed minutes from the Federal Reserve’s latest meeting.
The Topix advanced 0.3 percent to 1,647.83 as of 9:06 a.m. in Tokyo, after yesterday closing at the highest since October 2007. The Nikkei 225 Stock Average added 0.2 percent to 20,242.96. The yen traded at 121.20 per dollar after touching the weakest level since March 17 on Wednesday. Minutes of the Federal Reserve’s last meeting reinforced that interest rates will likely be boosted in the second half of this year, with officials not expecting to raise borrowing costs in June.
E-mini futures on the Standard & Poor’s 500 Index fell 0.2 percent after the underlying U.S. measure slipped 0.1 percent on Wednesday in New York, dragged lower by a selloff in airlines.