Japanese, Australian Stock Futures Advance on U.S. Retail Sales
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Japanese and Australian stock futures rose after a report showed U.S. retail sales unexpectedly advanced in April, buoying the earnings outlook for Asian exporters.
American Depositary Receipts of Toyota Motor Corp., a Japanese carmaker that gets 75 percent of its revenue overseas, rose 1.1 percent from the closing share price in Tokyo. Those of Nomura Holdings Inc., Japan’s biggest brokerage by market value, gained 1.3 percent after its shares surged yesterday to the highest level since 2008. ADRs of BHP Billiton Ltd., Australia’s biggest oil producer, fell 0.7 percent after crude slid for a third day.