Japan Stocks Higher as USD/JPY Moves Above 119.80

Japanese stocks rose as the yen fell for a third day and investors weighed an interest-rate cut by China amid signs the world’s second-biggest economy is weakening.

Tokyo Disney Resort operator Oriental Land Co. gained 3.9 percent as the Topix Services Index rose the most among the 33 industry groups on the gauge. Nippon Telegraph & Telephone Corp. added 3 percent after a report one of its units plans to buy German data center operator e-shelter GmbH & Co. for about 100 billion yen ($834 million). Taisei Corp. sank 3.6 percent after the construction company said it is seeking to raise about 20 billion yen by selling shares.

The Topix index added 0.2 percent to 1,527.55 at the trading break in Tokyo, with about five shares rising for every seven that fell. The gauge gained 1.6 percent last week to cap a 7.7 percent jump in February, the most since September 2013. The Nikkei 225 Stock Average advanced 0.3 percent to 18,847.19. The yen fell 0.2 percent to 119.87 per dollar.

Bloomberg

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