Japanese stocks closed higher on Friday, while SoftBank led the gains on the Nikkei index, as investors snapped up decliners after falling sharply this week.
The Nikkei index rose 1.56% to close at 29,176.70 points, while the broader Topix index advanced 1.46% to 1,984.16 points.
For the week, the Nikkei is down 2% and the Topix is down 1.4%.
Sentiment was supported, as Wall Street closed higher yesterday thanks to renewed optimism about the economy’s recovery after President Joe Biden pledged to double his administration’s plan to distribute anti-virus vaccines.
Nikkei’s heavyweight Softbank rose 1.8%, the largest contributor to the index, followed by Advantest, a maker of chip testing equipment, which jumped 4.65%.
Fast retailer, which runs Uniqlo clothing stores, rose 0.88%, also adding to the Nikkei index.
Toyota Motor and Sony were the largest shareholders in Topix, up 2.4% and 1.96%, respectively.
All of the 33 sub-sector indices on the Tokyo Stock Exchange rose, while the transportation sector led the gains. 195 shares advanced on the Nikkei, compared to a decline of 25.