Japan’s Topix index closed at its lowest in a month as investors awaited a two-day Federal Reserve policy meeting starting tomorrow and the yen advanced for a second day against the dollar.
Japan’s Topix index swung between gains and losses as shippers advanced while Nintendo Co. tumbled after forecasting a surprise loss.
Japanese shares rose, with the Nikkei 225 Stock Average capping its biggest yearly gain in four decades, as the yen retreated past 105 per dollar to its weakest in more than five years.
Japanese shares rose, after the Topix index capped a fifth week of declines, as the yen weakened following U.S. jobs data and ahead of Federal Reserve Chairman Janet Yellen’s first policy report to lawmakers.
Japanese shares fell, with the Topix index dropping for the first time in four days, as the yen gained. Consumer electronics companies and automakers were the biggest drags on the equity measure.
Japanese and Australian stock futures gained as better-than-forecast U.S. consumer confidence and manufacturing data bolstered optimism in the global economy.
The Nikkei 225 Stock Average edged up, rebounding from its biggest drop in two months, after Bank of America Merrill Lynch said recent stock gains in Japan will last until summer.
"We do not know what will happen, but if the tax increase is delayed, that will be positive for the stock market."
- Ryuta Otsuka on Nov 10, 2014