Tokyo stocks rose further on Friday, supported by an overnight advance on Wall Street that reflected stronger-than-expected U.S. jobs data.
The Nikkei average of 225 selected issues listed on the first section of the Tokyo Stock Exchange climbed 160.52 points, or 0.72 percent, to end at 22,306.48. On Thursday, the key market gauge gained 24.23 points.
The Topix index of all first-section issues finished up 9.57 points, or 0.62 percent, at 1,552.33 after rising 4.15 points the previous day.
Stocks moved on a firm note in the morning session after the U.S. Dow Jones industrial average bounced back Thursday thanks to a larger-than-expected increase in nonfarm payrolls and a drop in the jobless rate in the U.S. government’s employment report for June, brokers said.
The market trimmed the gains in the afternoon, with investor sentiment hurt by media reports that more than 100 coronavirus infections were found in Tokyo for the second consecutive day on Friday, they said.
But both the Nikkei and Topix showed resilience in late trading, aided by brisk performances in Shanghai and Hong Kong equities, they said.
“The Nikkei maintained its gains thanks to small-lot buying apparently by individual investors,” an official of a major securities firm said.
Meanwhile, Masayuki Otani, chief market analyst at Securities Japan Inc., suggested that a wait-and-see mood prevailed partly because the U.S. market is closed on Friday.
Rising issues outnumbered falling ones 1,333 to 759 on the TSE’s first section, while 78 issues were unchanged.
Volume decreased to 982 million shares from Thursday’s 1.357 billion shares.
Electronic parts maker Murata Manufacturing, factory automation equipment maker Keyence and other high-tech issues attracted purchases after the U.S. tech-heavy Nasdaq composite index hit a record high for the second straight day on Thursday.
Oil names such as Eneos and Idemitsu advanced thanks to an increase in crude oil prices.
Among other winners were technology investor SoftBank Group and clothing store chain operator Fast Retailing.
By contrast, mayonnaise maker Kewpie met with selling as its earnings in the six months to May, announced on Thursday, failed to meet market expectations.
Footwear shop operator ABC-Mart fell after announcing on Thursday a year-on-year fall in same-store sales in June.
Also on the negative side were drugmaker Takeda and agricultural machinery maker Kubota.
In index futures trading on the Osaka Exchange, the key September contract on the Nikkei average gained 100 points to 22,280.