Japanese stocks rose for a third day after a weaker yen boosted the earnings outlook for exporters and as investors digested the Group of 20’s statement on the global outlook.
The Topix index rose 1 percent to 1,324.30 as of 9:04 a.m. in Tokyo, with all but four of its 33 industry groups climbing. The Nikkei 225 Stock Average jumped 1 percent to 16,343.55. The yen traded at 113.74 per dollar, after dropping 0.9 percent on Friday.
Policy makers from Japan and China have indicated the need for more fiscal stimulus to combat a global slowdown.
E-mini futures on the Standard & Poor’s 500 Index slipped 0.1 percent after the underlying equity gauge closed 0.2 percent lower on Friday.
Data released in Tokyo Monday showed industrial production rose 3.7 percent in January from December, though fell 3.8 percent from a year earlier. Retail sales dropped 1.1 percent from December.