Japanese stocks rise as the yen held losses against the dollar from overnight, with investors on the lookout for comments from Bank of Japan Governor Kazuo Ueda and Federal Reserve Chair Jerome Powell.
Topix Index rose 0.2% to 2,677.83 as of 9:25 a.m. Tokyo time
Nikkei advanced 0.3% to 38,323.24
Recruit Holdings contributed the most to the Topix’s gain, increasing 1.8%. Out of 2,132 stocks in the index, 1,159 rose and 802 fell, while 171 were unchanged.
Oil-related stocks were higher due to a rise in New York crude oil futures on Thursday, and defensive stocks such as pharmaceuticals were also bought.
The yen was little changed at 146.09 per dollar after slumping 1.1% overnight.
The BOJ’s Ueda is appearing in parliament in Tokyo on Friday, and the Fed’s Powell will speak at Jackson Hole later that day.
Source: Bloomberg
