Japan’s Nikkei 225 Stock Average climbed for a second day to reach a 15-year high after the Bank of Japan maintained its record monetary stimulus.
Dentsu Inc. jumped 6.1 percent. Kawasaki Heavy Industries Ltd. surged 2.5 percent. Carmakers declined after UBS AG issued negative reports on Toyota Motor Corp. and Fuji Heavy Industries Ltd.
The Nikkei 225 advanced 0.8 percent to 19,789.81 in Tokyo, the highest close since April 2000. The Topix index climbed 0.6 percent to 1,588.47, with all but four of its 33 industry groups rising.
The BOJ maintained a plan to expand the monetary base at an annual pace of 80 trillion yen, as forecast by all 34 economists in a Bloomberg survey. The central bank remains far from achieving its inflation target, with its preferred consumer price gauge flat in February from a year earlier.
Source : Bloomberg
Japanese stocks rose, with the Topix index posting a fifth straight weekly gain and the Nikkei 225 Stock Average extending a 15-year high, as metal product makers and paper manufacturers led the advance.
Wafer-maker Sumco Corp. jumped 5.3 percent to rise the most on the Topix Metal Products Index. Japan Display Inc. jumped 5.4 percent on a report the company is considering building a plant in Japan at Apple Inc.â€™s request. Mitsubishi UFJ Financial Group Inc., the countryâ€™s No. 1 lender, dropped 0.6 percent as the biggest drag on the Topix after gaining 6.9 percent the past two days.
The Topix added 0.4 percent to 1,500.33 in Tokyo to close at the strongest level since December 2007 and rise 3.5 percent this week, its biggest such increase this year. The Nikkei 225 advanced 0.4 percent to 18,332.30 after closing at its highest since May 2000 yesterday.
Futures on the Standard & Poorâ€™s 500 Index were little changed after the underlying gauge slipped 0.1 percent on Thursday in New York.
Source : Bloomberg