Stocks in Japan led gains in Asia on Friday, after the European
Central Bank raised its growth forecast for the region.
The Nikkei Stock Average was up 1%, while stocks from Singapore
to Korea rose fractionally.
Shares across the region got a boost after the European Central
Bank raised its growth forecast for Europe to 1.5% this year, and
1.9% in 2016, a sign of increased confidence in the global
economy's trouble spots. The bank is expected to start its bond
buying program on Monday, in which it plans to spend roughly $60
billion a month, with an eye toward buying up to $1.1 trillion
worth of European debt.
In Japan, shares of FamilyMart Co. were down 3.3% after The Wall
Street Journal reported that the convenience-store operator was set
to begin merger talks with Circle-K owner UNY Group Holdings Co. A
combination would become Japan's second-largest convenience-store
group after 7-Eleven owner Seven & I Holdings Co., shares of
which rose 1.3%. Shares of UNY jumped 9.5%.
The Shanghai Composite was up 0.5% and the Hang Seng Index
gained 0.3%, with Beijing's latest growth forecast on the mind of
investors. Premier Li Keqiang said yesterday that China is
targeting growth of 7% this year, from the realized 7.4% last
year.
Write to Chao Deng at Chao.Deng@wsj.com
Access Investor Kit for Seven & I Holdings Co., Ltd.
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=JP3422950000
Access Investor Kit for FamilyMart Co., Ltd.
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=JP3802600001
Access Investor Kit for UNY Group Holdings Co., Ltd.
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=JP3949600005
Access Investor Kit for Seven & I Holdings Co., Ltd.
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=US81783H1059
Subscribe to WSJ: http://online.wsj.com?mod=djnwires