Japan Index Futures Rise

Japanese index futures climbed amid speculation the nation’s pension fund will announce plans to boost equity investments today, while the yen held losses before a review of central-bank policy. Crude oil extended declines and silver traded near its lowest price since 2010.

Nikkei 225 Stock Average futures in Chicago gained 0.4 percent by 8:43 a.m. in Tokyo, rising a for fourth day as the yen headed for its second weekly drop versus the dollar. The S&P/ASX 200 Index added 0.5 percent in Sydney while futures on the Standard & Poor’s 500 Index were little changed after the stock gauge rallied 0.6 percent. Citigroup (C) Inc. slipped more than 2 percent in extended U.S. trading. Oil in New York fell for a second day. Silver was steady at $16.5112 an ounce.

Japan’s Government Pension Investment Fund will raise its domestic and foreign stock allocation targets to 25 percent each, the Nikkei newspaper said. An announcement is due today, along with a statement from the Bank of Japan, which is engaged in record stimulus to bolster Asia’s second-largest economy. The U.S. economy capped its best six months of growth in a decade last quarter, supporting the Federal Reserve’s decision to bring its bond-buying program to an end this month.

Bloomberg

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.