Japan's Nikkei share average edged up on Friday morning, with most sectors advancing as sentiment improved after fears of more aggressive US interest rate hikes receded, with defensive stocks such as construction and utilities outperforming.
The Nikkei rose 0.3 per cent to 21,791.68 in midmorning trade. For the week, the benchmark index was up 0.4 per cent.
Construction companies Kajima Corp and Taisei Corp climbed 2.6 per cent and 1.7 per cent, respectively, and Tokyo Electric Power Co rose 1.8 per cent. Mining stocks also gained, with Inpex and Japan Petroleum Exploration both surging 2.0 per cent after oil prices rose to two-week highs.
Exporters were mixed. Some investors hesitated to take positions, on caution the US share market could see volatility again. The broader Topix gained 0.4 per cent to 1,753.98.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.