TOKYO: Tokyo stocks closed higher on Friday with investors cheered by a weaker yen – a boon for Japanese exporters – but gains were limited in the absence of strong fresh trading clues.
The benchmark Nikkei 225 index rose 0.53 percent, or 149.47 points, to end at 28,214.75, while the broader Topix index was up 0.40 percent, or 7.91 points, at 1,965.53.
The dollar stood at 143.04 yen, against 144.27 yen in New York late Thursday. In part driven by the cheaper yen, the Tokyo market saw “steady growth”, with investors particularly keen to buy high-priced stocks in the tech sector, Okasan Online Securities said in a note.
“But a mood of restraint increasingly took hold of investors ahead of the weekend… leaving the market struggling,” the brokerage said.
With the yen continuing to slide against the dollar, Bank of Japan Governor Haruhiko Kuroda met Prime Minister Fumio Kishida on Friday.
“Exchange rate fluctuations destabilise corporate management policies, which is undesirable in the sense that it heightens future uncertainties,” Kuroda told reporters after his meeting with Kishida.
“I think a rate shift of two to three yen in just one day is a rapid change,” the BoJ head said.
On Thursday, Japanese officials said the government was ready to take “the necessary response” if the yen continued to fluctuate, but without outlining any specific measures or timeline.
Tokyo stocks end more than 2% higher on US gains
Among major shares in Tokyo, SoftBank Group was slightly up 0.01 percent to 5,500 yen, and Uniqlo operator Fast Retailing edged up 0.20 percent to 83,280 yen.
Sony Group, meanwhile, lost 0.74 percent to 10,695 yen while Toyota inched down 0.09 percent to 2,078.5 yen.
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