Japanese stocks fell for a third day, with the Topix index heading for the biggest weekly loss in two months, as improving U.S. economic data stoked bets the Federal Reserve will curb its stimulus sooner than estimated.
Japanese stock futures were little changed as the yen rebounded, damping the earnings outlook for exporters. Declines may be limited ahead of U.S. data that’s forecast to show the housing market is improving. Australian stocks rose after oil prices increased.
Japanese shares gained, with the Nikkei 225 Stock Average rising to its highest in eight months, as the yen fell after the Liberal Democratic Party regained power. Tokyo Electric Power Co. led gains on expectations the new government will allow the restart of nuclear reactors.
Japanese shares rose, with the Nikkei 225 Stock Average closing at its highest in nearly four and a half years, as the yen fell amid speculation Prime Minister Shinzo Abe’s likely nominee for the Bank of Japan’s governorship is supportive of more monetary stimulus.