Asian stocks rose amid lower trading volume, with gains in Japanese utilities helping pare yesterday’s losses on the regional benchmark index, as investors awaited the results of the U.S. presidential election and a once-in-a-decade leadership change in China.
Japanese stocks fell for a second day amid low volume as investors await the results of the U.S. presidential election and as companies from Dainippon Screen Manufacturing Co. to NTN Corp. unexpectedly forecast losses.
Nomura Holdings Inc. and Daiwa Securities Group Inc. rose the most in more than two months on speculation that a financial-market recovery will help revive business at Japan’s biggest securities firms.
Asian stocks climbed as oil headed for a second day of decline, easing concern that high prices might crimp global demand, and as Chinese banks rose after a report they are allowed to keep lending to local governments.
Japan’s benchmark bonds completed their biggest weekly decline in almost eight months as Ichiro Ozawa ’s bid for the nation’s premiership raised concern his victory will lead to soaring government spending.
Japan’s government bonds fell the most in a week on speculation the departure to the U.S. of central bank chairman Masaaki Shirakawa will delay any plan to announce additional measures to keep borrowing costs low.