"… the market is generally a bit more positive based on the QE3 expectation"
- Matt Riordan, a portfolio manager at Paradice Investment Management Pty.
Japanese stocks rose for the first time in five days on Thursday after a report showed a step decline in U.S. new home sales, fuelling speculations about the next round of quantitative easing from the Federal Reserve.
The Nikkei 225 Stock Average climbed 0.75 per cent, or 62.53 points, to 8,428.43. The broader Topix Index added 0.92 per cent, or 6.51, to 712.97.
"Company-specific news is driving us, but the market is generally a bit more positive based on the QE3 expectation," said Matt Riordan, a portfolio manager at Sydney-based Paradice Investment Management Pty.
"Europe is lurching and no closer to a solution."
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