Japan Stocks Surge on Report GPIF to Boost Local Shares
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Japanese shares surged, with the Topix index climbing the most in more than a year, after a rebound in global equities and a report the nation’s pension fund will boost domestic stock holdings.
The Topix jumped 4 percent to 1,224.34 at the close of trading in Tokyo, the most since June 2013. Some 1,802 stocks on the first section of the Tokyo Stock Exchange rose, the most on record, according to the bourse. The measure lost 12 percent the past three weeks, meeting the common definition of a correction. The Nikkei 225 Stock Average added 4 percent to 15,111.23 today. The yen lost 0.4 percent to 107.27 per dollar after dropping 0.5 percent on Oct. 17.