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(Bloomberg) — Japanese stocks rose for a second day as speculation grew that the central bank will boost monetary easing after weaker-than-expected trade data.

Exporters such as Toyota Motor Corp., Sony Corp. and Honda Motor Co. gained as the yen weakened for a fifth day. Yaskawa Electric Corp. jumped 8.9 percent after the industrial-robot maker reported second-quarter profit that beat analyst estimates. Idemitsu Kosan Co. dropped 1.5 percent after the oil refiner unexpectedly reported a preliminary operating loss for the six months through September.

The Topix index added 0.8 percent to 1,511.22 at the trading break in Tokyo after falling as much as 0.2 percent. The Nikkei 225 Stock Average gained 0.8 percent to 18,355.15. The yen lost 0.1 percent to 119.90 per dollar. Japan’s exports grew at the slowest pace in more than a year in September and imports slumped, data showed Wednesday. The trade report is one of the most crucial economic indicators before the Bank of Japan meets on Oct. 30 to consider whether the nation needs more monetary stimulus to stoke inflation and economic growth.

“Whenever we get negative economic news, hopes for additional monetary easing moves the market,” said Takashi Aoki, a Tokyo-based fund manager at Mizuho Asset Management Co., which manages the equivalent of about $33 billion. “We’re starting to see hard evidence for our fears about the global economy being weak.”

Japan posted a 114.5 billion yen trade deficit in September, worse than economists estimates for an 87 billion yen surplus. Exports grew 0.6 percent from a year earlier, down from a 3.1 percent gain a month earlier, and imports slumped 11.1 percent.

U.S. Futures

E-mini futures on the Standard & Poor’s 500 Index added 0.1 percent after the underlying gauge slipped 0.1 percent on Tuesday.

Stocks around the world have been rallying throughout October, restoring more than $4 trillion to the value of the global equity market, amid growing confidence the U.S. won’t raise interest rates this year. That came after last quarter’s volatility triggered by China’s surprise decision in August to devalue the yuan. The Topix index is up 7.1 percent in October, heading for its biggest monthly gain since February.

A report Tuesday showed U.S. new-home construction climbed more than forecast in September to the second-highest level in eight years. The probability of a Federal Reserve interest-rate increase this month is now only 6 percent, and about 32 percent by December. March is the first month for which traders price in at least even odds of a boost.

San Francisco Federal Reserve President John Williams said Monday that the central bank is making progress toward fulfilling its dual mandate of stable prices and maximum employment and should raise interest rates in the near future.

–With assistance from Nao Sano and Yuko Takeo in Tokyo.

To contact the reporters on this story: Anna Kitanaka in Tokyo at akitanaka@bloomberg.net; Toshiro Hasegawa in Tokyo at thasegawa6@bloomberg.net To contact the editors responsible for this story: Sarah McDonald at smcdonald23@bloomberg.net John McCluskey