TOKYO: Japan’s Nikkei share average climbed on Friday, notching a third straight weekly advance, riding on Wall Street optimism between two pivotal central bank meetings.
The Nikkei 225 Index gained 1.4 percent to close at 50,836.55, rising 0.7 percent this week. The broader Topix climbed 2 percent to 3,423.83, a record closing high.
Overnight, the S&P 500 and the Dow gauges closed at record highs after a Federal Reserve policy update that was less hawkish than expected.
Japanese equities rallied after some weakness ahead of the Fed meeting, and the focus now has turned to messaging at the Bank of Japan’s policy decision on December 19, said Nomura Securities strategist Maki Sawada.
“Market sentiment in the first half of the week is likely to be somewhat cautious,” Sawada said.
“If (the Nikkei) recovers to 51,000, resistance at that level might become noticeable.”
There were 201 advancers on the index against 24 decliners. The largest percentage gainers were Sumitomo Metal Mining , jumping 9.1 percent, followed by Panasonic, which climbed 6.9 percent.
Technology shares, which of late have soared on euphoria over artificial intelligence investment, were weighed down after Oracle’s disappointing results.
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