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July 22, 2013, 10:14 p.m. EDT

Japan Cabinet upgrades economic view; stocks rise

LOS ANGELES (MarketWatch) -- Japanese stocks extended their gains Tuesday after the Cabinet Office upgraded its assessment of the economy, saying the recovery had become self-sustaining. The improved view was the third such upgrade in as many months, with a Reuters translation quoting the report as saying "recent price developments indicate that deflation is easing," thanks to fiscal and monetary stimulus. However, Reuters also quoted a Cabinet Office as saying capital spending would need to rise before the situation can be termed a "clear recovery." Tokyo stocks added to their advance, with the Nikkei Stock Average (NIKKEI:JP:NIK) moving from a roughly 0.4% gain to a 0.9% gain after the release of the report.

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China stocks jump to lead Asia; metals rally

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