Japanese shares rise notably on a positive outlook

Japanese shares rose notably, and the yen dipped from a 2-1/2 month high on optimism about the U.S. economic outlook and amid bets that the Bank of Japan will forgo raising interest rates again this year.

The Nikkei average climbed 0.77 percent to 39,910.55, extending gains for a fourth straight session. The broader Topix index settled 0.64 percent higher at 2,723.57 as traders returned from a national holiday.

Japan's industrial production decreased as initially estimated in August, final data from the Ministry of Economy, Trade, and Industry showed on Tuesday.

Industrial production contracted 3.3 percent on a monthly basis, reversing a 3.1 percent rebound in July.

 

Year-on-year, industrial production declined 4.9 percent in August versus a 2.9 percent rise in the prior month. The capacity utilization decreased 5.3 percent monthly in August, in contrast to a 2.5 percent gain in July.

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