Japan’s Topix index climbed, led by real-estate companies, as the yen weakened today and after the gauge yesterday fell the most in more than a week as intensifying conflict in Ukraine spurred a global selloff.
Japan’s industrial production grew the most since 2011, indicating the economy is strengthening as a looming sales-tax bump stimulates demand, while inflation matched the highest level in more than five years.
Hedge funds are losing confidence in Bank of Japan Governor Haruhiko Kuroda’s ability to keep depreciating the yen to boost growth and banish deflation as they wait for a second round of monetary easing to materialize.
The world’s major economies pledged to maintain generally accommodative policies and pay heed to the international repercussions of their actions as Federal Reserve Chair Janet Yellen won praise for helping smooth emerging-market concerns.
The dollar rose the most against the yen this year as the Bank of Japan maintained its monetary stimulus while Federal Reserve officials backed reductions to bond-buying even as winter weather slows U.S. economic growth.
The dollar rose against the yen, extending its biggest weekly advance this year, amid speculation the Federal Reserve will keep cutting stimulus while the Bank of Japan maintains its bond-purchase plan.