Nikkei inches up as supported by earnings

TOKYO (BestGrowthStock) – Japan’s Nikkei rose 0.5 percent on Friday in a rebound after two days of losses, but investors were wary of pushing the market higher before seeing the outcome of a Group of 20 meeting and with the yen hovering near a 15-year high on the dollar.

But with the earnings season heading into full swing in Japan, investors snapped up shares of companies that had upbeat earnings prospects such as Hitachi Ltd (6501.T: ), helping provide support to the overall market.

The benchmark Nikkei (.N225: ) ended the day up 50.23 points at 9,426.71, after marking its lowest close in three weeks on Thursday.

The index shed 0.8 percent on the week, weighed down by a fall of nearly 2 percent on Wednesday after China unexpectedly tightened credit.

The broader Topix (.TOPX: ) advanced 0.6 percent to 824.88.

(Reporting by Aiko Hayashi; Editing by Joseph Radford)

Nikkei inches up as supported by earnings