TOKYO: Japan’s Nikkei ended slightly higher on Friday, as chip-related stocks tracked Wall Street’s strong overnight performance, but the index snapped a three-week winning streak on caution ahead of the US trade deal deadline.
The Nikkei was up 0.06% at 39,810.88, after hitting an intraday high of 40,012.66.
The benchmark index fluctuated between negative territory and modest gains throughout the session. For the week, the Nikkei slipped 0.85%, snapping a three-week winning streak.
The broader Topix was flat at 2,827.95.
“Investors remained optimistic about the market outlook, but the Nikkei is still vulnerable,” said Shuutarou Yasuda, a market analyst at Tokai Tokyo Intelligence Laboratory.
“As soon as it hit the 40,000 level, there was a sell-off to book profits,” he said.
Wall Street rallied on Thursday to record closing highs, as chipmaker Nvidia rose closer to a $4 trillion valuation and a surprisingly strong US jobs report cheered investors, who shrugged off dimming chances for an interest rate cut this month.
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