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Japanese Stocks Gain on Barclays Real Estate Call, Higher Oil

Patrick Rial and Toshiro Hasegawa Bloomberg
Japanese Stocks Gain on Barclays Real Estate Call, Higher Oil - Japan - Real Estate Stocks - Real Estate Bank

July 17 (Bloomberg) -- Japanese stocks climbed after Barclays Bank Plc recommended buying three of the nation’s real estate companies and oil prices reached a one-week high.

Mitsubishi Estate Co., Japan’s biggest property developer by market value, rose 2 percent after Barclays gave the company its top “overweight” rating and the Nikkei newspaper said the company is seeking to invest overseas. Nippon Oil Corp., which develops oil fields in addition to refining operations, climbed 1.8 percent. Mitsui O.S.K. Lines Ltd., the world’s largest merchant fleet operator, rose 2.2 percent as cargo fees gained.

“Improved investor risk appetite is being reflected in rising stocks and positive sentiment on commodities,” said Juichi Wako, a senior strategist at Tokyo-based Nomura Holdings Inc. “The market is starting to surmise that U.S. earnings will not be as weak as forecast.”


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