Nikkei 225 Closes Up 0.86%
The Nikkei 225 index rose 0.7% to around 38,300, while the broader Topix index gained 0.6% to 2,699 on Friday, recovering some losses from the previous session as investors digested the latest Japanese consumer inflation data. The data revealed that Japan’s headline inflation rate slowed to a nine-month low of 2.3% in October, while core inflation also fell to a six-month low of 2.3%, slightly above the 2.2% forecast.
In addition, a separate report showed that manufacturing activity in Japan contracted more than expected in November, although service activity increased. Nearly all sectors participated in the recovery, with significant gains from index heavyweights such as Lasertec (+1.9%), Tokyo Electron (+2.1%), Mitsubishi UFJ (+1%), Toyota Motor (+0.7%), and Fast Retailing (+1%). However, despite Friday’s gains, the Nikkei and Topix are still on track to end the week down, currently down 0.8% and 0.5% respectively.
Source: Trading Economics
