Japanese stocks rose, poised for the biggest weekly advance since July, after Federal Reserve minutes indicated the central bank isn’t in a hurry to raise interest rates.

The Topix index climbed 1 percent to 1,496.15 as of 9:02 a.m. in Tokyo, headed for a weekly gain of 3.5 percent. The Nikkei 225 Stock Average added 1 percent percent to 18,312.71. Global stocks rose for an eighth day after oil topped $50 a barrel for the first time since July as Fed officials noted that while the U.S. economy continued to improve, market turmoil and threat of weakness abroad were among reasons for keeping rates near zero.

Minutes of the Sept. 16-17 Federal Open Market Committee meeting showed policy makers are confident about the U.S. economy as unemployment, consumer spending and the housing market show encouraging signs. Still, threats from abroad were enough for officials to forgo raising interest rates amid worries that China’s slowing growth will weigh on emerging markets, resulting in a stronger dollar and creating an additional drag on the economy as U.S. exports slow.

Speculation policy makers will refrain from tightening this year has driven demand for risk assets such as oil and equities. The MSCI All-Country World Index rose for an eighth day on Friday, headed for the best week since November 2012.

E-mini futures on the Standard & Poor’s 500 Index slipped less than 0.1 percent after the underlying gauge closed above 2,000 for the first time since the middle of the August selloff.

Source : Bloomberg