TOKYO: Japan’s Nikkei share average reversed course to trade higher on Thursday, as strong corporate earnings countered concerns ahead of US consumer price inflation data.

The Nikkei index was up 0.15% at 32,240.11, as of 0154 GMT, after opening 0.58% lower tracking overnight losses on Wall Street.

The broader Topix was up 0.27% at 2,288.83.

“The market was supported by stocks that reported strong results. The first-quarter corporate earnings season overall was very strong,” said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.

US stocks closed lower on Wednesday, a day ahead of the US Consumer Price Index (CPI) inflation report that could influence the Federal Reserve’s interest rate decisions.

“The US inflation data will be announced at a time when yields on long-term bonds in the US and Japan are volatile, which has made investors nervous,”

Arisawa said, Japanese markets will be closed on Friday for a holiday. Among individual stocks, Honda Motor advanced 5.1% after the automaker reported a 78% jump in quarterly profit, boosted by increased sales, especially in the North American market, and a weaker yen.

Tokyo stocks tumble for second straight day

Inpex surged 15% after the oil and gas explorer raised its full-year net profit forecast by 7% and announced measures to boost the company’s value and shareholder returns.

Sony Group tanked 5.31% after the entertainment conglomerate reported a 31% slide in operating profit for the April-June quarter due to lacklustre performance at its movies and financial divisions.