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Tokyo: Stocks rise as investors await US payrolls report
[TOKYO] Japanese stocks rose, paring the Topix index's longest weekly losing streak since February 2014, as investors await a US jobs report to provide the last major clue on the state of the world's biggest economy before the Federal Reserve next meets.
The Topix added 0.5 per cent to 1,482.38 as of 9:01 am in Tokyo, on course for a 4.4 drop this week, its fourth straight weekly loss. All but five of its 33 industry groups rose. The Nikkei 225 Stock Average gained 0.5 per cent to 18,276.16.
"Investors are waiting to see the Japanese stocks rise as investors await US jobs report," said Juichi Wako, a senior strategist at Nomura Holdings Inc. in Tokyo. "The ECB sent a message that it is keeping an eye on markets, which provides relief." Futures on the Standard & Poor's 500 Index added 0.1 per cent after the underlying measure rose 0.1 percent on Thursday. US market are closed on Monday for a holiday. The Stoxx Europe 600 Index rallied 2.4 per cent after President Mario Draghi said the European Central Bank is expanding the scope of monetary stimulus amid signs of a slowdown in the region.