Japan Stocks Recover Previous Losses After Data

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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