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Japan’s Nikkei index rose at the close on Wednesday as investors flocked to stocks of companies with strong expectations, but gains were limited as US inflation data was awaited later in the day.
The Nikkei rose 0.18 percent to close at 26,213.64 points, after declining earlier in the session.
Investors are awaiting US consumer price index data for April for indications that inflation may start to ease, with expectations that it will register an increase of 8.1 percent on an annual basis, compared to 8.5 percent in March.
The broader Topix index fell 0.60 percent to 1,851.15 points, affected by a 4.43 percent drop in Toyota Motor Co., after expectations of a decline in profits.
During the trading session, Toyota warned that operating profit this year may fall by about 20 percent “due to unprecedented increases in materials and logistics costs” against the background of a 33 percent drop in fourth-quarter profit.
The auto sector index fell 3.31 percent.
Sony Group shares rose 2.1 percent after the camera and auto equipment maker announced that its fourth-quarter operating profit more than doubled on an annual basis.
Video game maker Nintendo shares rose 3.25 percent.
69 shares rose on the Nikkei index, compared to 153 shares declined.
