TOKYO: Japan’s Topix index rose for a fourth day, following U.S. equities higher, after the Bank of Japan said it would maintain record stimulus. Drugmakers led the advance.
Astellas Pharma Inc. gained 1.8 percent, the biggest boost to the Topix Pharmaceuticals index. Toyota Motor Corp., the world’s largest carmaker by market value, added 0.9 percent as exporters gained. Takashimaya Co. jumped 4.2 percent after Mizuho Financial Group Inc. raised its rating on the department-store operator. Toei Co. slumped 1.4 percent as Nomura Holdings Inc. cut its assessment of the movie distributor’s stock.
The Topix added 0.5 percent to 1,646.41 at the close of trading in Tokyo, taking its four-day advance to 4.2 percent. The Nikkei 225 Stock Average rose 0.4 percent to 20,463.33. The Standard & Poor’s 500 Index advanced for a fourth day on Tuesday as weak U.S. retail sales damped prospects for a September interest-rate increase. In Europe, Greek Prime Minister Alexis Tsipras started his pitch for a bailout that’s sparked a revolt in his own party.
“It looks as if the Greek problem will come to a resolution,” said Masaru Hamasaki, head of the investment information department at Amundi Japan Ltd., which oversees about 3.7 trillion yen ($30 billion). “We’re seeing a rebound as the external environment calms down.”
