Topix Caps Five-Week Advance as Nikkei 225 Extends 15-Year High

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.’s request. Mitsubishi UFJ Financial Group Inc., the country’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 & Poor’s 500 Index were little changed after the underlying gauge slipped 0.1 percent on Thursday in New York.

Source : Bloomberg

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Topix Poised for Five-Week Gain as Nikkei 225 Extends 2000 High

Japanese stocks rose, with the Topix index headed for a fifth straight weekly gain and the Nikkei 225 Stock Average extending a 15-year high, as metal product makers led advances. Shippers declined.

The Topix added 0.2 percent to 1,497.29 at the trading break in Tokyo, having swung from a loss of 0.1 percent. It is headed for the strongest close since December 2007 and a 3.3 percent gain this week, its biggest such increase this year. About as many shares rose as fell. The Nikkei 225 rose 0.3 percent to 18,323.17.

Futures on the Standard & Poor’s 500 Index were little changed after the underlying gauge slipped 0.1 percent on Thursday in New York.

Source : Bloomberg

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