Japanese stocks gained after a slide in the yen, while stocks elsewhere in Asia opened with more modest gains as investors scrutinized the infection rate for the coronavirus after another methodology change in China.

Japan’s Topix index rose 1.1% as of 9:10 a.m. in Tokyo. The yen slumped overnight to its weakest in nine months amid concern the Japanese economy is heading toward recession and as Chinese stimulus reduces demand for some haven assets. China’s benchmark borrowing costs for new loans is expected to drop Thursday amid a swath of policy measures to fight the impact of the deadly coronavirus. Shares in South Korea and Australia opened firmer, while U.S. and European equities earlier closed at record highs.

Source : Bloomberg