Japan’s Topix index swung between gains and losses, after yesterday capping its steepest rally in two months, as shippers rose while carmakers declined.
The dollar held gains against the yen while Australian and Japanese stock-index futures signaled Asian stocks may climb for a second day. Futures on the Standard & Poor’s 500 Index declined.
Global carmakers will face rising demand this year as sales in China and the U.S. expand and Europe starts to grow again, Nissan Motor Co. Chief Executive Officer Carlos Ghosn said.
Japanese shares rose a second day, with the Topix index posting its largest advance in two months, as technology companies including SoftBank Corp. surged.
Japanese shares rose, with the Topix index halting a seven-day slide, after the yen weakened and U.S. stocks rebounded from their worst week since 2012.
Japanese shares fell, with the Topix index erasing gains in the final minutes of trading to cap its longest losing streak since October, as shippers slumped and the yen gained.
Asia’s benchmark stock index fell from an almost three-month high amid a renewed selloff of technology shares and as a gain in the yen yesterday dragged Japan’s Topix index to its worst week since June.
Fast Retailing Co., Asia’s biggest clothing retailer, fell the most in 10 months in Tokyo trading after lowering its annual profit forecast, citing higher costs and weak demand.
Japan’s Topix index fell for a sixth day, capping its biggest weekly slump since June, after the yen rose yesterday and a selloff in technology stocks resumed. Fast Retailing Co. tumbled.