Japan shares rise, supported by the technology sector

Japanese stocks rose on Friday, with the technology sector leading the gains following big gains on Wall Street in the evening, and sentiment was supported by the Bank of Japan’s accommodative monetary policies.

The Nikkei index rose 1.23 percent to 2,6419.97 points at the close. The index achieved a weekly increase of 2.04 percent, but it has fallen since the beginning of this month by 2.89 percent.

The broader Topix index rose 0.81 percent to 1,866.72 points. A 1.68 percent weekly increase.

And Wall Street’s main indices achieved strong gains in the evening, supported by a strong performance of defensive stocks and technology stocks, which outweighed declines in economic-sensitive stocks, with continued fears related to a possible recession.

Last week, the Bank of Japan kept interest rates very low despite several other central banks raising interest rates to control rising inflation.

Chip maker Tokyo Electron jumped 3.98 percent and SoftBank Investment Group rose 2.37 percent.

Automakers fell, with Mitsubishi Motors plummeting about 8 percent, the worst performing on the Nikkei index.

Toyota Motor shares fell 0.71 percent.