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Japan Stocks Continue Higher

Japanese stocks rose, with the Topix index headed for a fifth straight weekly gain and the Nikkei 225 Stock Average extending a 15-year high, as metal product makers led advances. Shippers declined.

Wafer maker Sumco Corp.jumped 4.1 percent to lead gains on the Topix Metal Products Index, which rose the most among the 33 Topix industry groups. Japan Display Inc. jumped 7.8 percent after a report the company is considering building a plant in Japan at Apple Inc.’s request. Mitsubishi UFJ Financial Group Inc., the country’s No. 1 lender, dropped 1 percent to be the biggest drag on the Topix after gaining 6.8 percent the past two days. Nippon Yusen KK, the country’s biggest shipper, lost 2 percent.

The Topix added 0.2 percent to 1,497.29 at the trading break in Tokyo, having swung from a loss of 0.1 percent. It is headed for the strongest close since December 2007 and a 3.3 percent gain this week, its biggest such increase this year. About as many shares rose as fell. The Nikkei 225 rose 0.3 percent to 18,323.17.

Bloomberg [1]

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