Tokyo stocks closed mixed Friday, led by selling of export-related issues on a stronger yen, while companies with solid earnings results attracted buying, News.az reports citing Xinhua.
Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 1.79 points from Thursday at 37,753.72.
The broader Topix index, meanwhile, finished 1.49 points, or 0.05 percent, higher at 2,740.45.
The U.S. dollar briefly fell to the upper 144 yen range in Tokyo as the Japanese currency was bought after a lower-than-expected U.S. producer price index for April fueled expectations for an interest rate cut by the Federal Reserve.
On the stock market, auto and electronics shares were sold on the yen’s appreciation, while selling was also fueled by data showing Japan’s economy contracted an annualized real 0.7 percent in the January-March period, dealers said.
But losses were later erased after some companies released positive earnings results and announced measures to enhance shareholder returns.
News.Az
AloJapan.com