Topix Gains Third Day as Yen Weakens to Seven-Year Low
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Japanese stocks rose, with the Topix index closing higher for a third day, as the yen fell to a seven-year low against the dollar after minutes of the Federal Reserve highlighted a divergence in global monetary policy.
Toray Industries Inc. jumped 6.4 percent, leading gains in the textile and fiber sector, after Iwai Cosmo Securities Co. raised its outlook on the stock. Toyota Motor Corp., which gets about 30 percent of its sales from North America, added 1 percent. Credit Saison Co. dropped 3.3 percent, as consumer lenders fell the most among the 33 Topix industry groups.