Japanese Stocks Rise a Third Day Ahead of U.S. Payrolls Report
- Strengthening dollar versus yen boosts Japanese exporters
- U.S. stocks slip on hawkish comments by Fed Chair Yellen
Japanese stocks rose, capping a third straight weekly gain, as a weaker yen boosted exporters and investors awaited a U.S. payrolls report that could provide clues on the Federal Reserve’s next move on interest rates.
Construction machinery maker Takeuchi Manufacturing Co., which relies on the U.S. for 43 percent of sales, climbed 1.7 percent. Tractor maker Kubota Corp. increased 4.9 percent after raising its profit outlook on a weaker yen. Builders led gains after Daiwa House Industry Co. boosted its full-year sales and profit outlooks. Japan Post Holdings Co. and its bank and insurance units posted their first losses since the initial public offering on Wednesday, with all three falling at least 3.2 percent. Takata Corp. dropped 6.2 percent, bringing its weekly loss to 40 percent as investors raised doubts about the air-bag maker’s survival.