The Japanese stock market is higher on Friday, with the benchmark Nikkei 225 Index rising to a fresh nearly 15-year high following the release of better-than-expected industrial output data. In addition, a weaker yen boosted exporters' stocks.
In late-morning trades, the Nikkei 225 Index is adding 58.84 points or 0.31 percent to 18,844.63, after earlier rising to 18,855.85, its highest intraday level since April 2000.
Among the major exporters, Sony Corp. (SNE) is higher by more than 1 percent, Sharp Corp is advancing almost 2 percent, Konica Minolta is higher by 0.3 percent and Canon (CAJ) is edging up 0.2 percent. Panasonic is rising 1.8 percent.
However, in the auto space, Honda (HMC) is down almost 1 percent, Suzuki and Nissan are declining 0.3 percent, and Toyota (TM) is edging down 0.07 percent.
Yamaha is down 0.4 percent despite the Nikkei business daily reporting that the company plans to make and sell cars in Europe starting around 2019.
In the banking sector, Mitsubishi UFJ Financial (MTU) is declining 0.6 percent, while Sumitomo Mitsui Financial is advancing 1.2 percent and Mizuho Financial (MFG) is edging higher by 0.2 percent. Mizuho Financial has agreed to acquire Royal Bank of Scotland's lending business in North America.
Among the other major gainers, Meiji Holdings is up 4.9 percent, Kajima Corp is adding 2.3 percent and Unitika is gaining 1.8 percent. Meanwhile, Yokogawa Electric Corp is declining 4.6 percent, Pacific Metals is down 2.8 percent and Tokai Carbon is losing 2.2 percent.
On the economic front, industrial output in Japan was up 4.0 percent on month in January, the Ministry of Economy, Trade and Industry said on Friday. That beat forecasts for an increase of 2.7 percent following the 0.8 percent increase in December.
On a yearly basis, industrial production dipped 2.0 percent - but that also beat forecasts for a decline of 3.1 percent following the 0.1 percent increase in the previous month.
The Ministry of Economy, Trade and Industry also said that the total value of retail sales in Japan was down 2.0 percent on year in January, coming in at 11.485 trillion yen. That missed forecasts for a decline of 1.2 percent following the 0.1 percent gain in December.
On a seasonally adjusted monthly basis, retail sales tumbled 1.3 percent - shy of expectations for a fall of 0.4 percent, which would have been unchanged.
The Ministry of Internal Affairs and Communications said that the jobless rate in Japan came in at a seasonally adjusted 3.6 percent in January. That missed forecasts for 3.4 percent, which would have been unchanged from the December reading.
The Ministry of Internal Affairs and Communications also said that the average of household spending in Japan was down 5.1 percent on year in January, standing at 289,847 yen. That missed forecasts for a decline of 4.1 percent following the 3.4 percent contraction in December.
Meanwhile, consumer prices in Japan were up 2.4 percent on year in January, in line with expectations and unchanged from the December reading. Core consumer prices were up 2.2 percent on year, below forecasts for 2.3 percent and down from 2.5 percent.
In the currency market, the U.S. dollar is trading in the lower 119-yen range on Friday. In early trades, the dollar was quoted in a range of 119.38-119.43 yen, up from Thursday's close of 118.81-118.83 yen in Tokyo.
On Wall Street, stocks turned in another lackluster performance on Thursday, amid uncertainty about the near-term outlook for the markets. The major averages fluctuated over the course of the trading day before ending the session mixed.
The tech-heavy Nasdaq climbed 20.75 points or 0.4 percent to 4,987.89, moving within striking distance of its record highs, while the Dow edged down 10.15 points or 0.1 percent to 18,214.42 and the S&P 500 dipped 3.12 points or 0.2 percent to 2,110.74.
Meanwhile, the major European markets all ended on the upside Thursday. While the U.K's FTSE 100 Index edged up by 0.2 percent, the French CAC 40 Index advanced by 0.6 percent and the German DAX Index jumped by 1 percent.
U.S. crude oil tumbled over five percent to end at a one-month low Thursday, on renewed concerns of oversupplies after crude stockpiles in the U.S. surged much more than anticipated last week even as the dollar strengthened sharply following a slew of economic data.
Crude Oil futures for April delivery, the most actively traded contract, plummeted $2.82 or 5.5 percent to settle at $48.17 a barrel on the New York Mercantile Exchange Thursday.
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