Japanese Stocks Advance as Financials, Carmakers Rebound
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Japan’s Topix index advanced the most in a month as brokerages, banks and consumer lenders rose after leading declines yesterday and carmakers climbed in the afternoon as the yen weakened.
Daiwa Securities Group Inc. jumped 12 percent, as a measure of brokerages in the Topix rebounded after falling more than 25 percent from a near five-year high in May. Mitsubishi UFJ Financial Group Inc., Japan’s biggest lender, added 7.5 percent after dropping the most in a month yesterday. Toyota Motor Corp., the world’s largest carmaker, reversed declines to gain 2.1 percent. Wakita & Co. tumbled 11 percent after announcing a share sale.