Japanese Shares Rise Amid U.S. Gains as Investors Weigh Earnings

Japanese shares rose for the first time in four days, tracking gains in U.S. shares, as companies including Suzuki Motor Corp. and TV Tokyo Holdings Corp. gained on earnings.

The Topix index advanced 0.7 percent to 1,281.29 as of 9:08 a.m. in Tokyo. The Nikkei 225 Stock Average climbed 0.7 percent. The yen traded at 101.29 per dollar after weakening 0.4 percent on Wednesday. The S&P 500 Index climbed 0.3 percent on gains in crude prices and as corporate earnings helped boost financial shares. U.S. nonfarm payrolls data for July are due Friday.

Futures on the S&P 500 climbed 0.1 percent. The underlying measure snapped a two-day retreat on Wednesday in a late day surge as a rebound in crude oil boosted energy producers, offsetting declines in defensive shares.

Earnings season continues in Japan, with Toyota Motor Corp. scheduled to report after the market close on Thursday. Of the 256 companies that have reported earnings so far and for which Bloomberg has estimates, 54 percent have beaten analyst expectations for profit, while 58 percent fell short of predictions for sales.

Strategists and investors see the Topix rising to 1,350 by year-end, according to the median forecast in a Bloomberg News survey as of Aug. 3. The benchmark gauge has fallen 18 percent this year through Wednesday, the second-worst performer out of 24 developed markets. 

Source: Bloomberg

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Japan Stocks Fall as Yen Gains Before BOJ Decision on Stimulus

Stocks in Tokyo fell after the yen gained, as investors weighed a slower pace of rate increases in the U.S. while awaiting monetary policy decisions from the Bank of Japan.

The Topix index sank 0.3 percent to 1,272.88 as of 9:01 a.m. in Tokyo. The yen traded at 105.86 per dollar, following four days of gains, as the Federal Reserve refrained from raising borrowing costs this month with Chair Janet Yellen citing uncertainty over the U.K.’s June 23 referendum on whether to stay in the European Union as a factor. Focus now turns to Thursday’s BOJ decision on stimulus, with 28 percent of 40 economists surveyed by Bloomberg projecting a change.

Source: Bloomberg

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