TOKYO: Tokyo stocks ended higher on Friday after a see-saw session swayed by profit-taking and buying on confidence in corporate earnings.
The Nikkei 225 index gained 0.20 percent, or 45.68 points, to 22,396.80. Over the week, the key index lost 1.25 percent, the first weekly loss since early September.
The broader Topix index ended up 0.12 percent, or 2.05 points, at 1,763.76, but it was still down 2.04 percent from last Friday.
Shares surged at the start of the day following a rally on Wall Street by progress by US lawmakers on pushing through a tax-cut plan and more upbeat earnings.
However, a surge in the yen pared the gains.
The dollar fell to 112.54 yen Friday from 113.02 yen in New York.
Market players now “think they may have overly applauded the lower house approval of the tax plan as there are many more hurdles to clear,” Toshihiko Matsuno, chief strategist at SMBC Friend Securities, told AFP.
While the tax overhaul passed the House of Representatives, analysts warned there was still a long way to go for an agreement to get through the Senate and then on to Donald Trump’s desk to be signed off.
In individual share trading Chugai Pharmaceutical closed down 1.92 percent at 5,600 yen and Nissan rose 0.51 percent to 1,070 yen after a report said executives are to return part of their pay over a recent quality control scandal.
Toyota fell 0.64 percent to 6,917 yen while Sony was up 0.73 percent at 5,215 yen.
Source: Brecorder.com
