Tokyo shares end higher ahead of election

TOKYO: Tokyo stocks finished Friday with gains following another record close on Wall Street and ahead of a weekend general election.

The benchmark Nikkei 225 index added 0.25 percent, or 72.60 points, to 28,892.69, for a weekly gain of 0.30 percent, while the broader Topix index put on 0.08 percent, or 1.52 points, to 2,001.18 -- almost unchanged over the previous seven days.

The market faced pressure in early business after disappointing earnings from tech giants Apple and Amazon.

Tokyo stocks close lower on weak earnings

"But, as (the Nikkei) fell to around 28,500, investors picked up bargains, particularly of firms with strong earnings, eventually bringing back the entire market," Okasan Online Securities said.

Investors shied away from making big bets as Japan prepares for Sunday's lower house vote, with local media reporting that the ruling party is likely to lose seats.

"A wait-and-see stance increased in late trade ahead of the general election," Okasan added.

The dollar bought 113.58 yen, barely moved from its levels in New York late Thursday.

Airline ANA Holdings slipped 0.23 percent to 2,653 yen. After the market closed, the company downgraded its annual forecast, saying it now expects an annual net loss of 100 billion yen ($880 million), a massive change from its previous projection for a profit of 3.5 billion yen.

Sony Group rose 1.90 percent to 13,140 yen after the entertainment and electronics conglomerate upgraded its annual forecasts on Thursday.

Shipping firm Mitsui OSK surged 9.48 percent to 7,160 yen after posting robust earnings.

Toyota added 0.33 percent to 2,006.5 yen.