Japan's Stock Futures Rise After Fannie Mae Regulations Eased

May 7 (Bloomberg) -- Japanese stock futures advanced in Chicago after U.S. regulators eased restrictions on Fannie Mae, boosting confidence the housing slump is being addressed.

U.S.-traded receipts of Mizuho Financial Group Inc., Japan's third-biggest bank by market value, climbed 1.6 percent from the closing share price on May 2. Those of Mitsubishi Corp., the nation's biggest trading house, gained 1.4 percent after crude oil surged above $122 per barrel.

Fannie Mae's regulator said it will lower the surplus capital requirement to 15 percent from 20 percent, allowing the largest financer of home loans in the U.S. to guarantee more mortgages.

Source: Bloomberg


Post a Comment

You are welcome to post comments. However, please do not use Anonymous as your ID. At least, put in your initials for easy reference in further conversations.