TOKYO: Japan stocks rose after U.S. shares climbed to records as companies including Dentsu Inc., Dai Nippon Printing Co. and Marui Group Co. said they’ll buy back shares.
Dentsu surged 12 percent, Dai Nippon Printing gained 1.6 percent and Marui added 3.8 percent. Nikon Corp. tumbled 11 percent after slashing its operating-profit target, while Sharp Corp. dropped 8.5 percent after saying it would cut 10 percent of its global workforce.
The Topix added 0.4 percent to 1,597.87 at the break in Tokyo, poised for a 0.6 percent increase this week. Volume on the measure today was about 14 percent above the 30-day intraday average, with almost twice the number of shares rising as falling. The Nikkei 225 Stock Average climbed 0.5 percent to 19,669.91. The Standard & Poor’s 500 Index closed at an all-time high Thursday as a weaker dollar boosted multinational companies.
“Companies giving back to shareholders through moves like share buybacks and boosting dividends has increased,” said Soichiro Monji, chief strategist at Tokyo-based Daiwa SB Investments Ltd. “That’s supportive for the market.”
E-mini futures on the S&P 500 were little changed today. The underlying equity measure advanced 1.1 percent Thursday, halting a three-day slide, as Microsoft Corp. and Apple Inc. advanced. Treasuries gained after a measure of inflation unexpectedly declined, calling into question how soon the Federal Reserve will be able to raise interest rates.
