Japan Stock Futures Gain as Fed Comments Ease Slowdown Concern

June 26 (Bloomberg) -- Japan's stock futures rose after the Federal Reserve said risks to growth have diminished, raising optimism that the biggest export market for Japanese-made goods will avoid a recession.

U.S.-traded receipts of Toyota Motor Corp. gained 1.5 percent from the closing share price in Tokyo yesterday, while Honda Motor Co. climbed 1.3 percent. Sony Corp. added 1.3 percent.

Nikkei 225 Stock Average futures expiring in September last traded at 13,925 in Chicago, higher than the close of 13,880 in Osaka and 13,905 in Singapore yesterday. The Bank of New York Japan ADR Index, which tracks American depositary receipts of Japanese companies, gained 1.2 percent, as the Standard & Poor's 500 Index posted its biggest jump in two weeks.

``The gain in the U.S. market relieved concern among investors, though uncertainty about the external environment still remains,'' Mitsushige Akino, who manages the equivalent of $557 million at Ichiyoshi Investment Management Co. in Tokyo, said in an interview with Bloomberg Television.

Source: Bloomberg


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