Nomura Holdings Inc. and Daiwa Securities Group Inc., Japan’s largest brokerages, plan to cut costs as the faltering local economy, Europe’s sovereign credit crisis and U.S. debt impasse weigh on earnings.
Japanese stock futures rose after U.S. retail sales beat estimates and the yen weakened against its 16 most-traded counterparts, boosting the earnings outlook for exporters. Australian equities gained.
Japanese stock futures rose after the yen weakened for an eighth day against the dollar, the longest losing streak in seven years, boosting the earnings outlook for exporters. Australian equities rose.