14.11.201602:11:00UTC+00Nikkei Rises on Weaker Yen, Better-Than-Expected Data

Asian markets traded mixed while Japan's Nikkei maintained its third consecutive session of advances, likely due to the boost from a relatively weaker yen and better-than-expected Japanese economic data. The Nikkei 225 surged 1.78 percent, after the report of Japan's third-quarter gross domestic product (GDP), which has shown that the economy expanded 2.2 percent year-on-year.

The yen was weak against the dollar, as the greenback was at 107.38 yen, in comparison to levels near 104 on election day in the U.S. last week. Latest data has also noted the third consecutive quarter of growth in Japan, following an uneven economic performance in the three years since the summer of 2013. The newest growth figures have shown that residential construction climbed in the nation even after borrowing rates declined. Mitsui Fudosan jumped 4.8 percent, Sumitomo Realty & Development gained 3.6 percent and Mitsubishi Estate climbed 2.2 percent.