Japanese stocks rose for a second day, following a rally in U.S. equities amid mounting speculation the Federal Reserve will put off raising interest rates until 2016. Precision-instrument makers led gains.
The Topix added 0.8 percent to 1,502.83 as of 9:02 a.m. in Tokyo, heading for a 0.8 percent weekly loss as five shares rose for each that fell. The Nikkei 225 Stock Average advanced 1 percent to 18,278.73.
E-mini futures on the Standard & Poor’s 500 Index added 0.1 percent after the underlying gauge jumped 1.5 percent to an eight-week high on Thursday, advancing for the first time in three days.
The probability of a Fed interest-rate increase by the December policy meeting has dropped to 30 percent, down from 70 percent at the start of August, according to futures data compiled by Bloomberg. The slide worsened even after a gauge of U.S. core consumer prices advanced more than projected in September, while hiring data provided evidence of labor-market resilience. Data on Wednesday showing worse-than-forecast U.S. retail sales compounded pessimism from disappointing data on China’s economy.