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Japan Helps Out Asian Markets as Production Rebounds

“Japanese stocks climbed the most in two months as the yen fell amid optimism the European Union will do more to ease the region’s debt crisis and a report showed Japan’s industrial production is set to rebound.

Mazda Motor Corp., the Japanese carmaker most dependant on European sales, gained 1.5 percent as the euro rose against the yen, boosting the value of repatriated earnings. Sony Corp. (6758), which gets 70 percent of sales overseas, climbed 1.9 percent amid speculation the EU will offer further aid to Greece. Fanuc Corp., a maker of industrial robots, rose 1.8 percent after a Trade Ministry report showed factory production may recover from March’s earthquake disaster as soon as next month.

The Nikkei 225 Stock Average rose 2 percent to 9,693.73 at the 3 p.m. close of trading in Tokyo, the steepest gain since March 30. The broader Topix index added 1.8 percent to 838.48, paring a decline of 1.6 percent for the month.”

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