Japanese stocks rose, with the Topix index trading near its highest level since 2007, as a weaker yen boosted exporters.
The Topix climbed 0.2 percent to 1,630.36 as of 9:02 a.m. in Tokyo, gaining for a third day and headed for the highest close since November 2007. The Nikkei 225 Stock Average advanced 0.5 percent to 19,981. The yen traded at 119.93 per dollar after weakening the most in more than two weeks on speculation the U.S. economy will rebound from a sluggish first quarter.
The dollar rallied before the release of U.S. housing and manufacturing data this week, as well as minutes from the Federal Reserve’s April meeting, which may provide clues on when the central bank may increase interest rates.
E-mini futures on the Standard & Poor’s 500 Index were little changed after the underlying U.S. measure gained 0.3 percent to close at a record on Monday in New York.