Japan Stocks Gain Most in Two Weeks as Oil Price Concerns Ease
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Japanese stocks rose the most in two weeks, reversing earlier declines, as a report of restored oil production in Libya eased concern higher fuel prices will derail the global economic recovery.
Toyota Motor Corp., the world’s No. 1 carmaker, gained 1.7 percent after the Wall Street Journal said Libya had resumed some oil shipments. Sony Corp., Japan’s biggest electronics exporter, climbed 0.9 percent. Mizuho Securities Co. surged 12 percent, the largest increase on the Nikkei 225 Stock Average, after a report its parent will buy out subsidiaries. Nippon Sheet Glass Co., a glassmaker, jumped 3.1 percent after Deutsche Bank AG raised its rating on the stock.