Japan Shares Rise Slightly Amid Optimistic Expectations For Corporate Results

Japanese shares rose slightly on Friday as optimism about the performance of domestic companies outweighed investor caution ahead of the country’s general elections.

The Nikkei index rose 0.25 percent to close at 28,892.69 points, after falling about 1.2 percent earlier in the session. The index increased during the week by 0.3 percent.

The broader Topix index also increased and closed up 0.08 percent at 2001.18 points.

Market participants said the Nikkei made up for most of its early losses after Denso, a subsidiary of Toyota Motors, reported solid earnings during the session.

Denso shares rose 1.72 percent, while Toyota shares rose 0.33 percent.

Sony Group, which posted an unexpected 1 percent increase in operating profit in the second quarter, gained 1.9 percent.

However, market players reported that gains were limited as investors were reluctant to take risks ahead of the general elections to be held at the weekend.

Panasonic shares plunged 6.2 percent even though the power tool maker raised its annual operating profit forecast by 12 percent.

Advantest Tech shares fell 2.81 percent after its annual forecast came in lower than expected.