Topix Climbs as Greece Approves Bailout, Investors Weigh Yellen

Japan Topix index rose as Greek lawmakers passed a bailout agreement that keeps the country in the euro and investors weighed comments from Federal Reserve Chair Janet Yellen on the timing of rate increases.

The Topix climbed 0.5 percent to 1,654.80 as of 9:01 a.m. in Tokyo, headed for a fifth day of gains. The Nikkei 225 Stock Average advanced 0.6 percent to 20,592.59. The yen fell 0.1 percent to 123.89 per dollar after weakening 0.3 percent on Wednesday. Greeceā€™s vote puts the onus on the ECB and other euro-region governments to deploy more emergency funds that will help Greek banks re-open. Yellen was upbeat on the economy and repeated that the Fed will probably raise its main interest rate this year.

Futures on the Standard & Poor 500 Index added 0.1 percent. The underlying equity measure slipped 0.1 percent on Wednesday.

Source : Bloomberg

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