This file photo shows the Tokyo Stock Exchange. (Mainichi)
TOKYO (Kyodo) — Tokyo stocks ended higher Friday, as shares were broadly bought on easing concern over U.S. tariffs after Japan and the United States agreed to seek a speedy resolution following their first negotiation earlier this week.
The 225-issue Nikkei Stock Average ended up 352.68 points, or 1.03 percent, from Friday at 34,730.28. The broader Topix index finished 28.92 points, or 1.14 percent, higher at 2,559.15.
On the top-tier Prime Market, gainers were led by pharmaceutical, marine transportation and mining issues.
The U.S. dollar was little changed in the lower 142 yen range in Tokyo, as many participants stayed on the sidelines ahead of the Easter holidays overseas, dealers said.
On the stock market, the Nikkei index, which initially fell as semiconductor-related issues faced selling, ended in the positive territory on optimism that the United States could move to reduce hefty tariffs imposed on Japan as bilateral negotiations progress.
However, gains were limited as they were only driven by receding concerns that U.S. President Donald Trump would have thrown a hard fastball at the talks, said Kazuo Kamitani, strategist at Nomura Securities Co.
“The market would remain top-heavy unless uncertainty is eliminated over how much the products exported from Japan will be sold in the United States,” Kamitani said.
Stocks were also boosted by pharmaceutical issues, with Japanese drugmaker Chugai Pharmaceutical surging 17.5 percent on expectations that it would receive a royalty from U.S. firm Eli Lilly and Co., which announced solid results on its experimental pill, brokers said.
AloJapan.com