Home ›› 23 Jul 2022 ›› Stock
Tokyo stocks reversed earlier losses and ended higher on Friday, as confidence about sound business performances expanded ahead of corporate earnings season in Japan.
The benchmark Nikkei 225 index ended up 0.40 per cent, or 111.66 points, at 27,914.66, while the broader Topix index gained 0.28 per cent, or 5.38 points, to 1,955.97. Rallies were led by “shipping firms which have announced upward revisions to their full-year earnings forecasts”, Daiwa Securities said in a commentary.
Kawasaki Kisen climbed 11.31 per cent to 9,840 yen ($71.46), after it revised up its full-year pre-tax profit forecast. Mitsui OSK Lines ended up 2.93 per cent at 3,510 yen, and Nippon Yusen rallied 4.02 per cent to 10,360 yen, after the shipping firms similarly revised up full-year current profit forecasts.
The mood among investors was also generally buoyant after Wall Street advanced overnight, boosted by strong earnings from bellwether companies like Tesla, analysts said.
Sony Group was up 0.63 per cent at 12,025 yen, chip-testing equipment maker Advantest was up 0.80 per cent at 7,540 yen, and Toyota was up 0.41 per cent at 2,202.5 yen.
But Honda ended down 1.56 per cent at 3,468 yen and Nissan slid 1.06 per cent to 515.5 yen.
The dollar fetched 137.87 yen in late Asian trade, against 137.34 yen in New York late Thursday.
