TOKYO: Japan’s Nikkei share average snapped a four-session slide on Friday, driven by a 12 percent rally in index heavyweight SoftBank Group and buoyed by Wall Street’s strong finish overnight.
The Nikkei closed 1.26 percent higher at 65,020.94, but posted a weekly loss of 2 percent.
Technology investor SoftBank Group jumped 11.78 percent to become the biggest source of gains for the Nikkei after its chip unit Arm Holdings rose 3.29 percent overnight. Memory chipmaker Kioxia rose 5.4 percent.
The broader Topix recouped early losses to end 0.03 percent higher at 4,103.23. The index was down 1.05 percent for the week.
Markets have almost fully priced in a Bank of Japan interest rate increase to 1.25 percent later this month. They have also fully priced in another hike by January, according to data from money market broker Tokyo Tanshi.
US Federal Reserve Governor Christopher Waller said on Thursday he would support keeping rates unchanged this month if upcoming data confirmed inflation pressures were easing.
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