Japan Stocks Higher as Yen Holds Losses

Japanese stocks rose, with the Topix index gaining a second day as the yen held losses. The euro was near a one-year low versus the dollar with the central bank to review monetary policy this week, while crude oil dropped.

The MSCI Asia Pacific Index (MXAP) was little changed by 9:48 a.m. in Tokyo, as the Topix climbed 0.3 percent. Benchmark indexes in Australia and South Korea lost at least 0.1 percent. Standard & Poor’s 500 Index futures fell 0.1 percent, with U.S. markets resuming after the Labor Day holiday. The yen dropped to a one-week low versus the greenback, and the euro was at $1.3131 near the weakest level since Sept. 6, 2013. The ringgit was down 0.2 percent after a Malaysian holiday yesterday. Oil in New York lost 0.2 percent and corn futures declined.

U.S. investors return from the break to reports on American manufacturing, after gauges of factory output in Europe and China yesterday signaled slower growth. The Reserve Bank of Australia is projected to keep its key interest rate at a record low today, with central banks for Japan and the euro area to meet and review later in the week. Pro-democracy protests have broken out in Hong Kong, while in Ukraine, the government said it will take on Russia’s “full-scale invasion.”

Bloomberg

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