Japan's Massive Pension Fund To Buy More Stocks: Reports

Japan was set to announce greater stock allocations for its giant public-pension fund Friday, reports said, with the news helping boost shares. The Government Pension Investment Fund (GPIF), valued at $1.2 trillion, was expected to raise its stock holdings to 25% of assets from a current 12% target, Reuters said, citing unnamed sources. Likewise, GPIF's bond-holding target of 60% would be cut in half, The Wall Street Journal said, also quoted unidentified sources familiar with the matter. Japan's benchmark Nikkei Stock Average ended the morning session with a 1.7% gain to lead the major Asia markets Friday.