Japan’s Topix Index extended a 4 1/2- year high as steelmakers rallied and GS Yuasa Corp. jumped after Dreamliner flights resumed in the U.S. Gains were limited as property developers slid.
Asian stocks rose this week, with the regional benchmark index heading for the biggest monthly gain this year, as companies including BYD Co. and Kobe Steel Ltd. forecast profit increases.
Kobe Steel Ltd., Japan’s third- biggest steelmaker, plans to raise as much as 100.6 billion yen ($996 million) to reorganize its main operations.
Japanese stocks slid, with the Topix Index falling for the first time in three days, after the euro-area economy contracted in the second quarter. Declines were limited as U.S. retail sales rose more than estimated.
Kobe Steel Ltd., Japan’s third- biggest mill, tumbled in Tokyo trading after saying it plans to raise as much as 100.6 billion yen ($990 million) in Japan’s second-biggest share sale this year.
Kobe Steel Ltd., Japan’s third- biggest steelmaker, surged the most in 4 1/2 years in Tokyo trading after it forecast its first profit in three years.