Most of Japan’s stocks rose at the close after the announcement of the companies’ results

Most Japanese stocks rose on Thursday, led by manufacturing companies, on profit optimism, while concerns about the banking sector weighed on financial companies.

The Nikkei index rose 0.15 percent to close at 28,457.68 points, recovering from a drop of 0.6 percent at the beginning of the session. The broader Topix index rose 0.43 percent to 2,032.51 points.

Heavy equipment maker Hitachi jumped 3.67% after it said full-year operating profit rose 45%. This contrasts with the case of stock brokerage Nomura Holdings, which fell 7.24 percent after the company reported a decline in quarterly profits.

Shares in chip testing equipment maker Advantest Corp fell more than 9.21 percent, its biggest drop in nearly three years, after its earnings forecast missed market expectations.

Nomura joined major Wall Street companies in announcing a recession after the collapse of two US banks last month. US stocks were mixed overnight, but the Nasdaq Technology Index rose following upbeat results from Microsoft and Google Alphabet.

Investors are awaiting US inflation data on Friday ahead of next week’s decision by the Federal Reserve on monetary policy, while the Bank of Japan begins a two-day meeting on Thursday.

152 stocks rose on the Nikkei index, compared to 69 decliners.