Tokyo stocks have returned to their winning ways as the Nikkei 225 index finished at a more than five-month high Friday, with investors looking to minutes from the Fed's June meeting and Japanese data next week. Among key data slated for release in the coming days are Japanese current account figures and machinery orders which could further cement hopes for a pickup in the world's number three economy, Nomura Securities said in a note to clients.
Machinery orders, a key leading indicator of corporate capital spending, "are expected to show continued strength, supported by a recovery in the international economy," Nomura said.
Investors will also examine minutes from the Federal Reserve's policy setting meeting last month to gauge the outlook for the central bank's future monetary policy.
Rising investor confidence has helped drive up the Nikkei index, after strong US jobs data sparked another record-breaking advance on Wall Street and a dollar rally against the yen.
On Friday, the headline index added 88.84 points to finish at 15,437.13, its best close since late January, and marking a 2.27 percent gain over the week.
The index is still down about 5.0 percent from its 2013 closing high.
The broader Topix index of all first-section shares climbed 0.52 percent, or 6.65 points, to 1,285.24 on Friday, adding 2.56 percent on the week.
Nomura and Daiwa Securities separately tapped the Nikkei to cross the 16,000 level on blossoming hopes for a continuing economic recovery in Japan.
A weaker yen is positive for Japanese exporters as it makes them more competitive abroad and increases profits when repatriated. In share trading, Sharp rose 0.90 percent to 336 yen after it said it was eyeing an overhaul of its sluggish European business, while the leading Nikkei business daily said the Japanese giant would pull the plug on its home appliance unit on the continent.
Nissan rose 0.91 percent to 991 yen. Japan's number-two automaker said Thursday that it had opened its second manufacturing plant in Thailand, a key market for the firm.
Rival Toyota rose 0.53 percent to 6,201 yen, Sony climbed 1.41 percent to 1,720 yen while Uniqlo clothing chain operator Fast Retailing gained 0.13 percent to 33,420 yen.
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