Japanese Stocks Rise as Investors Await Emergency Summit on Greece

Japanese stocks rose, led by insurers and banks, as investors await an emergency summit in Brussels that could decide Greece’s future in the euro zone.

Asahi Kasei Corp. gained 1.9 percent after a report the chemical producer’s operating profit may rise as much as 20 percent. Chugai Pharmaceutical Co. added 5.4 percent after Barclays Plc raised its rating on the drugmaker. Sumco Corp. lost 2.2 percent after Credit Suisse Group AG cut its target price on the silicon wafer maker.

The Topix index added 0.7 percent to 1,642.07 at the trading break in Tokyo, with about five shares rising for every three that fell. The Nikkei 225 Stock Average gained 0.8 percent to 20,335.31. U.S. futures rose after Greece at the weekend proposed “a definitive solution” to unlock bailout funds, according to a government statement.

Source: Bloomberg


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