The Nikkei 225 Index Closes 0.49% Lower

The Nikkei 225 Index dropped 349 points or 0.49 percent on Friday to close at 70704 points. Losses were led by Sumitomo Metal Mining (-7.04%), NEC (-6.02%) and Daiichi Sankyo (-5.95%). Offsetting the fall, top gainers were Furukawa Electric (15.10%), Sumitomo Electric (10.37%) and Renesas Electron (5.74%).

The Nikkei 225 Index rose 0.28% to close at 71,250, while the broader Topix Index slipped 0.57% to 4,045 in mixed trading on Friday, as investors assessed data showing Japan’s core inflation remained steady at 1.4% in May. The reading matched expectations and indicated that underlying price pressures stayed contained despite concerns that elevated energy costs could fuel inflation. Despite Friday’s mixed performance, the Nikkei and Topix advanced about 8% and 4%, respectively, for the week as the US-Iran peace agreement took effect, driving oil prices lower and easing inflation worries. Japanese equities also drew support from a global rally in semiconductor and artificial intelligence-related stocks, helping offset the impact of hawkish signals from the US Federal Reserve. Among sectors, technology shares mostly advanced on Friday, while financial, industrial, and consumer stocks were generally weaker.

The Nikkei 225 Index went up by 1256 points or 1.80 percent on Thursday to close at 71158 points. The rise was led by Murata Manufacturing (12.38%), Ajinomoto (8.41%) and Recruit Holdings (6.89%).