Japan Topix Caps Best 3 Weeks Since 2014 Ahead of U.S. Jobs

Japanese stocks rose for a fourth day, capping the best three-week rally for the Topix index since November 2014, as investors await a meeting of Chinese leaders and a U.S. payrolls report. Oil explorers led gains as crude prices climbed.

The Topix surged 4.9 percent this week, taking its gain to 15 percent over the past three weeks after entering a bear market in January. The measure closed at 1,375.35 on Friday, up 0.5 percent, after reversing losses late in the day. The Nikkei 225 Stock Average added 0.3 percent to 17,014.78.

Source: Bloomberg

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Japan Stocks Slip as Topix Heads for Best Three Weeks Since 2014

Japanese stocks fell for the first time in four days, paring the best three-week gain in the Topix index since November 2014, as investors await a meeting of Chinese leaders and a U.S. payrolls report.

The Topix index slipped 0.4 percent to 1,363.74 as of 9:02 a.m. in Tokyo, on course to rise 4 percent this week and 14 percent over the past three weeks after entering a bear market in January. The Nikkei 225 Stock Average lost 0.3 percent to 16,903.20. U.S. stocks extended a three-week rally before Friday’s jobs report.

Futures on the Standard & Poor’s 500 Index slipped 0.2 percent. The underlying equity measure added 0.4 percent on Thursday, extending an eight-week high, led by gains in energy shares as oil continued its rebound.

Source: Bloomberg

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