Japanse stocks advance on U.S. retail sales, weaker yen
News On Japan via BusinessWeek -- Oct 16
Japanese shares rose, with the Nikkei 225 (NKY) Stock Average increasing the most in about a month, as exporters gained after U.S. retail sales beat estimates and the yen weakened.
Sony Corp. (6758), Japan's biggest exporter of consumer electronics, rose 2.4 percent. Softbank Corp. (9984), the nation's third-biggest mobile-phone carrier, soared 9.6 percent after agreeing to acquire Sprint Nextel Corp. for $20.1 billion. Kirin Holdings Co., the biggest Japanese brewer by market value, sank 2.4 percent after cutting its 2015 sales forecast on a weaker outlook for beer sales.
The Nikkei 225 gained 1.4 percent to 8,701.31 at the 3 p.m. close in Tokyo, the steepest advance since Sept. 14. The broader Topix climbed 1.3 percent to 732.40, with more than three times as many shares rising as falling.
Source: BusinessWeek
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