Japan’s Nikkei closes at a 7-week high and Sony jumps thanks to strong expectations

Japan’s Nikkei closed at a seven-week high on Friday, buoyed by Nasdaq’s strong performance overnight, with Sony and others leading the index higher after announcing strong growth expectations.

The Nikkei index rose 0.39 percent to close at 27,509.46 points, the highest closing level since December 16. The index rose 0.46 percent during the week.

The broader Topix index also increased 0.26 percent to 1970.26 points, but lost 0.6 percent during the week.

The Nasdaq and S&P 500 closed higher overnight, touching their highest levels in nearly five months, as stocks drew support from more-than-expected dovish comments from Federal Reserve Chairman Jerome Powell, while Meta Platforms shares jumped thanks to the implementation of strict controls on oil prices. the cost.

Sony Group shares jumped 6.18% after the game maker raised profit forecasts and raised its PlayStation 5 sales target by one million units to 19 million in the year ending in March.

ANA Holdings also rose 1.68 percent after the operator of Japan’s largest airline raised its full-year profit forecast as travel demand recovered.

Panasonic Holdings fell 3.11 percent after the electrical appliances manufacturer cut its annual operating profit forecast.