Japanese manufacturers becoming more optimistic.

The Japanese Tankan sentiment index for large manufacturers has jumped to a six-year high of 16 in December from 12 in September. The index for small non-manufacturers turned positive for the first time in 21 years with an increase to 4, while the reading for small manufacturers was 1, the first positive number for six years. However, large Japanese companies have scaled back their capex projections, expecting to increase FY 2014 spending by 4.6% vs a forecast of 5.1% three months ago.