Japanese stocks rose, with the Topix index extending its third weekly gain, after U.S. jobless claims dropped and the yen weakened.
The Topix added 0.8 percent to 1,366.90 as of 9:01 a.m. in Tokyo, heading for a 2.4 percent advance this week. All 33 industry groups climbed. The Nikkei 225 Stock Average rose 0.8 percent to 16,924.79. The yen traded at 115.19 per dollar today after falling 1.4 percent over the previous two days.
Futures on the Standard & Poorâ€™s 500 Index were little changed today. The U.S. equity measure added 0.4 percent yesterday as the C vowed to increase stimulus efforts if needed and a drop in American unemployment claims bolstered optimism in the economy.
First-time jobless claims dropped 10,000 to a three-week low of 278,000 in the week ended Nov. 1, a report showed. Labor Department figures today may show nonfarm payrolls rose 235,000 last month and the jobless rate held at a six-year low.
The Topix fell 1.1 percent yesterday on speculation shares had risen too fast since the Bank of Japan on Oct. 31 expanded stimulus and the nationâ€™s pension fund said it will boost its stock holdings.
Of the companies on the Topix that released quarterly results from Oct. 1 through yesterday and for which Bloomberg had estimates, 63 percent beat expectations for profit.