Japan Stock Futures Gain on Surging Commodities, Bank Optimism

http://www.bloomberg.com/apps/news?pid=20601101&sid=axJnpMd_lmqk&refer=japan

By Nick Baker

Nov. 5 (Bloomberg) -- Japan stock-index futures advanced as Americans voted for a president, commodities surged and traders bet the Treasury will bail out more financial companies.

Toyota Motor Corp., Mitsubishi UFJ Financial Group Inc. and Canon Inc. increased more than 3.9 percent in U.S. trading. American depository receipts for companies across Asia also advanced, including BHP Billiton Ltd.'s 8.9 percent surge as metals and oil jumped.

Nikkei 225 Stock Average futures expiring in December traded at 9,595 in Chicago as of 6:51 a.m. Tokyo time, representing a 5.4 percent gain from the close of 9,105 in Singapore and 9,100 in Osaka, Japan. The Standard & Poor's 500 Index climbed 4.1 percent, while the Bank of New York Mellon Asia ADR Price Index added 5.5 percent.



U.S. stocks staged the biggest rally on a presidential Election Day since it stopped being a trading holiday in 1984. General Electric Co. added 7.6 percent while CIT Group Inc. and Principal Financial Group Inc. climbed more than 22 percent after people briefed on the matter said the government may broaden the focus of its rescue program. Exxon Mobil Corp. and Chevron Corp. led all 40 energy shares in the S&P 500 higher as oil gained. Archer Daniels Midland Co. rose 15 percent after profit more than doubled at the world's largest grain processor.

To contact the reporter on this story: Nick Baker in New York at nbaker7@bloomberg.net.

Last Updated: November 4, 2008 17:06 EST