Japan’s Nikkei share average edged up on Friday in thin trade, extending its gains into a sixth day as optimism for the recovering economy supported the mood after the Bank of Japan’s two-day policy meeting.
The central bank maintained its massive stimulus programme and offered a slightly more upbeat view of the Japanese economy, as a modest rebound in consumption helped the service-sector sentiment improve to a one-year high.
The Nikkei 225 ended 0.3 per cent higher to 20,264.41. The six-day winning streak is the longest since December. For the week, the index has gained 2.7 per cent.
The broader Topix gained 0.1 per cent to 1,647.85, but the trading volume was thin, with only 2.075 billion shares changing hands, the lowest in almost a month.
Traders attributed it to fewer participants ahead of a long weekend in the US, where markets will be closed on Monday.
The market capitalisation of the Tokyo Stock Exchange’s main board hit a record high at the close. It rose to 591.30 trillion yen, surpassing the 590.09 trillion yen hit in December 1989, when share prices hit records at the height of the Japanese asset bubble.
The JPX-Nikkei Index 400 added 0.1 per cent on Friday to 14,912.32.