Japanese Stocks Rise, Nikkei 225 Heads for Highest Close Since 1996

Japanese stocks rose for a fourth day, with the Nikkei 225 Stock Average on course for its highest close since 1996, as brokerages led the advance.

Nomura Holdings Inc., Japan’s largest brokerage, added 1.8 percent. Mizuho Financial Group and Sumitomo Mitsui Financial Group Inc. jumped 1.3 percent to be among the biggest supports to the Topix index. Trading company Sojitz Corp. rose 5.4 percent, leading gains on the Nikkei 225, while Fujifilm Holdings Corp. fell 3.2 percent for the largest drop.

The Nikkei 225 gained 0.5 percent to 20,922 at the trading break in Tokyo, heading toward its highest close since December 1996. The measure has risen 20 percent this year. The Topix added 0.4 percent to 1,683.53, with all but six of its 33 industry groups rising. The yen traded at 123.87 per dollar following a two-day loss of 1 percent as investors’ focus shifted from Greek debt negotiations to global monetary policy.

Source: Bloomberg

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Japan Stocks Rise, Nikkei 225 Heads for Highest Close Since 1996

Japanese stocks rose for a fourth day, with the Nikkei 225 Stock Average on course for its highest close since 1996, as brokerages and shippers led the advance.

The Topix index added 0.4 percent to 1,683.11 as of 9:01 a.m. in Tokyo as all but three of its 33 industry groups rose. The Nikkei 225 gained 0.5 percent to 20,902.75, headed for its highest close since December 1996. The yen traded at 123.85 per dollar following a two-day loss of 1 percent as investors’ focus shifted from Greece’s debt negotiations back to global monetary policy.

E-mini futures on the Standard & Poor’s 500 Index were little changed. The underlying gauge gained 0.1 percent in New York on Tuesday to close near a record as investors weighed economic data for clues on the timing of higher U.S. interest rates amid optimism that a deal on Greek aid is within reach. The Bank of Japan releases minutes of its May meeting Wednesday, and a reading on first-quarter U.S. gross domestic product is due.

Source: Bloomberg

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