The Nikkei 225 Index Closes 0.39% Higher

The Nikkei 225 Index went up by 218 points or 0.39 percent on Friday to close at 55496 points. The rise was led by Tokuyama (5.38%), Sumitomo Dainippon (5.20%) and Fujitsu (5.15%). On the downside, the weakerst performers were Fuji Electric (-5.97%), Fujikura (-4.60%) and Nippon Sheet Glass (-4.51%).

The Nikkei 225 Index rose 0.62% to close at 55,621, while the broader Topix Index gained 0.39% to 3,717 on Friday, but both benchmarks still declined more than 5% for the week as the Middle East conflict unsettled financial markets. The US-Israeli offensive against Iran has now entered its seventh day, while Tehran launched a new wave of missile and drone strikes across the Gulf. Iranian Foreign Minister Abbas Araghchi denied reports that Iran had requested a ceasefire and signaled no willingness to negotiate. Surging oil prices, which stoked inflation concerns, also weighed on equities globally, with Bank of Japan Governor Kazuo Ueda cautioning that the war could significantly affect Japan’s economy. Tech stocks traded mixed, with notable declines for Kioxia Holdings (-1.6%), Fujikura (-4.6%), and Lasertec (-0.7%), with gains were recorded in Advantest (0.7%), Disco Corp (2.6%) and SoftBank Group (1.6%).

The Nikkei 225 Index rose 1211 points or 2.23 percent on Thursday to close at 55457 points. Leading the gains are Toho Zinc (8.01%), Inpex (7.21%) and Nippon Electric Glass (6.86%).