Nikkei gains on US upbeat retail sales data

<p>The Nikkei 225 average rose 0.66 per cent to end at 17,371.58.</p>

Japanese stocks rose today (December 12th), boosted by Wall Street's strong session yesterday after the release of upbeat US retail sales. Figures from the Commerce Department released yesterday revealed sales rose 0.7 per cent last month, the largest increase in eight months. 

In addition, the National Retail Federation told CNBC its forecast "is right on track" for a 4.1 per cent sales growth this holiday season. Meanwhile, the Labor Department reported that fewer Americans filed unemployment claims last week.

The Dow Jones Industrial Average ended yesterday at 17,596.34, up 0.4 per cent, and the S&P 500 added 0.5 per cent, to 2,035.33.

In addition to the US data, exporters’ shares were boosted by a weakening yen. The Japanese currency traded around 119.20 against the dollar. The Nikkei 225 average rose 0.66 per cent today to end at 17,371.58, and the Topix closed up 0.19 per cent at 1,399.65.

Learn about the Asian markets and CFD trading at City Index.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.