TOKYO: Japan’s Nikkei share average added to a weekly advance on Friday as investor attention turned towards major central bank decisions next month.
The Nikkei 225 index swayed between gains and losses before closing up 0.2 percent at 50,253.91. The gauge rallied 3.4 percent for the week, but its 4.2 percent slide this month marks the worst November performance since 2011. The broader Topix gained 0.3 percent on the day.
Trading cues were limited with the US markets shut on Thursday for the Thanksgiving holiday.
Faster core inflation in Tokyo highlighted chances for a Bank of Japan rate hike next month, while recent strength in US technology shares hinged on whether the Federal Reserve delivers an interest rate cut in December.
“With limited catalysts, aggressive buying activity is limited,” said Nomura Securities strategist Maki Sawada.
“Heading into December, the current market focus is on monetary policy developments in Japan and the US”
A postponed Fed rate cut “could trigger a decline in major high-tech stocks,” she said.
There were 143 advancers on the Nikkei index against 80 decliners. The largest gainer was Okuma with a 6.7 percent rise, followed by Furukawa Electric, which added 4.7 percent.
The largest losers were Mitsui Kinzoku, down 2.1 percent, followed by Toho, which slid 2 percent.
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