Tokyo stocks staged a humble rebound Friday, aided by upturns in overseas markets and the popularity of technology names.

The 225-issue Nikkei average gained 59.08 points, or 0.20%, to close at 29,768.06, following a 21.81-point drop Thursday.

The Topix index of all first section issues finished 7.61 points, or 0.39%, higher at 1,959.47, after surrendering 15.57 points the previous day.

Stocks spurted from the outset in the wake of broad-based rises in the U.S. and European markets, lifting the Nikkei by over 300 points to levels above the 30,000 threshold in the first several minutes of trading.

But they lost steam in the latter half of the morning session as profit-taking pressure built up, and became mixed in the afternoon.

Drops in Chinese and other Asian stocks and position-squaring ahead of the weekend prevented the market’s further ascent, brokers said.

But semiconductor and other tech shares attracted buying after their U.S. peers fared well on a drop in the benchmark 10-year Treasury yield, they added.

“Concerns over spikes in novel coronavirus cases in Japan weighed on the market,” Yutaka Miura, senior technical analyst at Mizuho Securities Co., said in reference to the government’s fresh move to designate Tokyo for semi-emergency measures along with Kyoto and Okinawa prefectures.

An asset management firm strategist pointed out that investors retreated to the sidelines in the afternoon to wait for a bellwether earnings report to be released by Yaskawa Electric after the closing bell.

On the TSE first section, gainers overwhelmed decliners 1,293 to 792 while 105 issues were unchanged. Volume slightly fell to 1.123 billion shares from Thursday’s 1.134 billion shares.

Buoyant issues in the semiconductor sector included testing device manufacturer Advantest and wafer producer Shin-Etsu Chemical.

Tech and entertainment giant Sony rose 2.77% thanks to its U.S. movie arm’s acquisition from Netflix Inc. of exclusive online distribution rights.

Optical equipment-maker Olympus and system integrator NTT Data also went up.

On the other hand, clothing store chain Fast Retailing, a heavily weighted component of the Nikkei, plunged 3.40% after releasing a bleaker-than-expected operating profit forecast for the year ending in August.

Convenience store chain Lawson dived 5.24% after announcing earnings estimates.

In index futures trading on the Osaka Exchange, the key June contract on the Nikkei average climbed 100 points to end at 29,770.

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