Japanese Stocks Advance After Exporters Rebound on Yen
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Japanese stocks advanced, erasing earlier declines, as exporters rebounded after the yen weakened. Shares earlier followed U.S. stocks lower amid continued concern about the potential for tighter monetary conditions in the world’s largest economy.
Honda Motor Co., a carmaker that gets 47 percent of sales in North America, swung to a 2 percent gain from a 3 percent loss as the yen fell. Dowa Holdings Co., Japan’s biggest silver producer, soared 8.5 percent after Bank of America Merrill Lynch recommended its shares. Kirin Holdings Co., Sumitomo Electric Industries Ltd. and Central Japan Railway Co. dropped at least 2.4 percent after surging before the close yesterday.