Japan Shares Rise as Exporters Boost Gauge, Developers Rebound
- Yen declines against dollar after three days of gains
- Topix closes as its highest since May 31, boosting valuations
Japanese stocks advanced to close at the highest level in almost five months as investors bought brokerage and developer shares on appealing valuations while exporters climbed as the yen fell for the first time in four days.
The Topix index closed at its highest level since May 31, while also ending the day at its most expensive relative to earnings since March. The yen slipped against the dollar, paring a 0.7 percent increase over the past three sessions, after Hillary Clinton and Donald Trump finished their third and last debate before the Nov. 8 U.S. presidential election. Sharp Corp. jumped 7.7 percent on optimism its earnings will improve, while a gauge tracking real estate firms, which has underperformed the broader market this year, climbed 3.8 percent.