AIRLINK 81.10 Increased By ▲ 2.55 (3.25%)
BOP 4.82 Increased By ▲ 0.05 (1.05%)
CNERGY 4.09 Decreased By ▼ -0.07 (-1.68%)
DFML 37.98 Decreased By ▼ -1.31 (-3.33%)
DGKC 93.00 Decreased By ▼ -2.65 (-2.77%)
FCCL 23.84 Decreased By ▼ -0.32 (-1.32%)
FFBL 32.00 Decreased By ▼ -0.77 (-2.35%)
FFL 9.24 Decreased By ▼ -0.13 (-1.39%)
GGL 10.06 Decreased By ▼ -0.09 (-0.89%)
HASCOL 6.65 Increased By ▲ 0.11 (1.68%)
HBL 113.00 Increased By ▲ 3.50 (3.2%)
HUBC 145.70 Increased By ▲ 0.69 (0.48%)
HUMNL 10.54 Decreased By ▼ -0.19 (-1.77%)
KEL 4.62 Decreased By ▼ -0.11 (-2.33%)
KOSM 4.12 Decreased By ▼ -0.14 (-3.29%)
MLCF 38.25 Decreased By ▼ -1.15 (-2.92%)
OGDC 131.70 Increased By ▲ 2.45 (1.9%)
PAEL 24.89 Decreased By ▼ -0.98 (-3.79%)
PIBTL 6.25 Decreased By ▼ -0.09 (-1.42%)
PPL 120.00 Decreased By ▼ -2.70 (-2.2%)
PRL 23.90 Decreased By ▼ -0.45 (-1.85%)
PTC 12.10 Decreased By ▼ -0.89 (-6.85%)
SEARL 59.95 Decreased By ▼ -1.23 (-2.01%)
SNGP 65.50 Increased By ▲ 0.30 (0.46%)
SSGC 10.15 Increased By ▲ 0.26 (2.63%)
TELE 7.85 Decreased By ▼ -0.01 (-0.13%)
TPLP 9.87 Increased By ▲ 0.02 (0.2%)
TRG 64.45 Decreased By ▼ -0.05 (-0.08%)
UNITY 26.90 Decreased By ▼ -0.09 (-0.33%)
WTL 1.33 Increased By ▲ 0.01 (0.76%)
BR100 8,052 Increased By 75.9 (0.95%)
BR30 25,581 Decreased By -21.4 (-0.08%)
KSE100 76,707 Increased By 498.6 (0.65%)
KSE30 24,698 Increased By 260.2 (1.06%)

TOKYO: Japan’s Nikkei share average rebounded on Friday, buoyed by positive earnings and Wall Street gains overnight, although profit-taking capped further advances.

The Nikkei was up 0.62% at 38,311.63 by the midday break, after rising more than 1% earlier in the session. The broader Topix was up 0.68% at 2731.86.

The benchmark index has seen a choppy week of trading after hitting a three-week high of 38,863.14 on Tuesday.

Higher expectations for US interest rate cuts following softer-than-expected jobs growth in April has brightened investor sentiment this week.

Wall Street gave a fresh boost, rising after weekly jobless claims data added to hopes for interest-rate cuts. That combined with solid local earnings gave the Nikkei the push needed to try higher again.

But the rally was reined in as investors jumped in to lock in profits with the index near the psychologically-significant 39,000 level.

“It does look to me like we’ve entered a period of consolidation,” said Tony Sycamore, a market analyst at IG.

“But when you’re looking at the bigger picture, a period of consolidation is not a bad thing. It generally means the market’s rebuilding energy.”

The index rose to an all-time high of 41,087.75 earlier this year before retreating last month.

Japanese shares rises on value stocks’ appeal as rate hike looms

Among individual shares, earnings reports largely decided the winners and losers of the morning session. Gaming firms stood out, with Konami Group, up 9.3%, leading gains.

Bandai Namco Holdings and Nintendo also advanced, up 6.3% and 3.5%, respectively.

Electrical equipment manufacturer Daikin Industries surged 9%.

Chip-related Screen Holdings fell to the bottom with a 10.9% decline.

Shares of Panasonic Holdings were 5.5% lower after the energy unit of the firm missed its operating profit guidance for the business year.

Comments

200 characters