2014.06.2603:07:46UTC+00Japanese stocks climb on recovering US data

Japanese stocks are on the rise following the rebound from Wall Street as US stocks surged following the good prospects on its economy and a speculated recovery in its second quarter review.

The Topix gained 0.3% to 1,264.97. The trend shows that for every five shares that climbed, three fell. Yesterday, the gauge was down 0.6%. The Nikkei 225 is up by 0.3% to 15,314.74 with its futures closing in at 15,360.

Internet portal operator, Yahoo Japan Corp. gained 1.5% following its announcement that it will obtain KC Card Co.’s credit and financial operation. Meanwhile, Rakuten Inc. is up by 3.3% after re

Chief fund manager at Shinkin Asset Management Co., Naoki Fujiwara commented that the rise in Japanese share and futures of Nikkei 225 is attributed to the increase in US stocks. She said that the underlying support of the Japanese shares rise lies on the hopes that the Federal Reserve Bank will maintain its conservativity, however, riding on US incline is not enough as there is a lack of new news within Japan that may act as stimulus or deterrent to the market and thus Japanese trading may be sideways for a bit of time.