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Tokyo stocks end higher on solid earnings reports, weaker yen
MAINICHI   | 7 jam yang lalu
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This file photo shows the Tokyo Stock Exchange. (Mainichi)
TOKYO (Kyodo) -- Tokyo stocks ended slightly higher Friday, as investors took their cue from solid earnings reports by some companies and exporters were lifted by the yen's depreciation.
The 225-issue Nikkei Stock Average ended up 58.52 points, or 0.15 percent, from Thursday at 39,572.49. The broader Topix index finished 6.73 points, or 0.24 percent, higher at 2,788.66.
On the top-tier Prime Market, gainers were led by securities house, nonferrous metal and marine transportation shares.
The U.S. dollar climbed to the upper 154 yen range in Tokyo on buying after a decline in the morning as the yen, seen as a safe-haven asset, was bought amid uncertain prospects of U.S. tariff policies, dealers said.
Stocks briefly entered negative territory in the morning, but buying offset losses on the back of stronger-than-expected earnings reports from some companies.
"As a whole, earnings results were not bad and investors bought back stocks that were considered undervalued," said Toshikazu Horiuchi, equity strategist at IwaiCosmo Securities Co.
The yen's depreciation also helped improve sentiment and lifted auto shares, as a weaker yen increases exporters' overseas profits when repatriated.
However, the market was top-heavy as investors refrained from chasing higher ground as investors were wary of U.S. President Donald Trump's actions after he said he plans to impose 25 percent tariffs on goods from Canada and Mexico at the start of February as scheduled, Horiuchi said.
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