Tokyo stocks closed higher Friday, ending the week on a positive note as a weaker yen and a rally in oil prices lifted investor sentiment. At the start, the Japanese market tracked a positive lead from Wall Street, with petroleum-linked shares getting a firm boost as Brent held above $50 a barrel. But trading was thin with many investors away for the week-long holiday, and at midday the benchmark stock index had edged into negative territory.
The Nikkei 225 recovered and climbed 0.36 percent, or 59.81 points, to end the day at 16,545.82, rebounding from the previous day's 1.6-percent drop. Over the week, the index lost 2.21 percent. The broader Topix index of all first-section shares rose 0.38 percent, or 4.88 points, to 1,295.67. The index was down 2.08 percent over the entire week.
Next week Japanese inflation figures will be a trading cue, after soft July trade and disappointing second-quarter GDP this week rekindled concerns about the economy. Markets will also be keeping a close eye on remarks from Fed chair Janet Yellen at an annual economic symposium in Jackson Hole, Wyoming. "Looking ahead, the focus will remain on the yen ahead of Fed Chair Yellen's eagerly-anticipated comments next week," Cameron Umetsu, a Japan strategist at Mizuho Securities, said in a commentary. On Friday, the yen eased somewhat against the dollar, supporting automakers such as Toyota and Honda. A weaker currency is a plus for Japan's exporters, as it boosts the overseas profitability of exporters. The greenback changed hands at 100.23 yen against 99.94 yen Thursday in New York. Toyota rose 2.13 percent to 6,026 yen and Honda jumpped 3.53 percent to 3,093 yen Energy explorer Inpex surged 4.94 percent to 931.5 yen and refiner JX Holdings was up 2.69 percent at 392.7 yen.
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