Japan Stocks Recover Previous Losses After Data

MarketWatch Pulse

Japan stocks recovered some ground on Friday morning after two straight days of declines, after data showed Japan's October retail sales rose 1.4% on year and industrial production beat forecasts with a month-on-month increase of 0.2%. However, the inflation rate slowed to its lowest level in a year. The Nikkei Average advanced 0.7%, with the broader Topix index also up 0.7%. The yen weakened against the greenback, trading at �118.12 from �117.62 in the previous session. Auto makers mostly bounced back, as Toyota Motor Corp. gained 1.4%, Honda Motor Co., Ltd. added 0.9%, and Mazda Motor Corp. moved up 0.7%. Electronics giant Toshiba Corporation improved by 1.4%, and console maker Nintendo Co., Ltd. zoomed 1.3% higher. However, energy shares suffered heavy losses after international crude prices sank to a four-and-a-half year low, with Inpex Corporation tumbling 5.2%, and Japan Petroleum Exploration Co., Ltd. sliding 2.9%. Meanwhile, in Australia, the S&P/ASX 200 declined 1.2%.

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