TOKYO: Tokyo stocks ended higher on Friday, extending rallies on Wall Street where traders digested strong retail sales figures.
The benchmark Nikkei 225 index was up 1.10 percent, or 364.99 points, to end at 33,533.09, while the broader Topix index added 0.95 percent, or 22.81 points, to 2,428.38.
“All major US stock indices were significantly higher on Thursday. The IPO of chipmaker Arm under SoftBank Group got off to a good start (in New York), which boosted the Nikkei index,” Iwai Cosmo Securities said.
The Tokyo market was also supported by positive Chinese economy data, the company said.
In Tokyo, SoftBank Group jumped 2.08 percent to 6,718 yen, after the British chip designer Arm saw its share price surge almost 25 percent on its trading debut in New York.
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The SoftBank-supported firm’s initial public offering left it with a market capitalisation of around $65 billion – well above its target.
Arm’s IPO netted SoftBank almost $5 billion while leaving it with control over approximately 90 percent of the company.
Among other shares, automakers were higher with Toyota jumping 2.67 percent to 2,821.5 yen and Nissan soaring 2.90 percent to 677.1 yen.
Sony Group gained 2.25 percent to 12,930 yen.
The dollar traded at 147.61 yen against 147.46 yen in New York on Thursday.
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