Nikkei rose for the ninth consecutive week after fixing the final settlement price

Japan’s Nikkei index rose sharply on Friday, marking its ninth consecutive week of gains, as investors took comfort from the fixing of the final settlement price.

The Nikkei index rose 1.97 percent to close at 32,265.17 points, its biggest daily gain since last Monday. The index rose 2.35 percent for the week, erasing a loss of nearly 4 percent in the past two days, after rising on Wednesday to a 33-year high.

The broader Topix index rose 1.50 percent to 2,224.32 points, and rose 1.9 percent during the week.

The final settlement price, which is being watched closely, was set at 32,018.38 points. It is calculated based on the opening prices of 225 shares listed on the Nikkei on the second Friday of the month.

Fast Retailing, which owns the Uniqlo brand, jumped 4.6 percent, giving the Nikkei the biggest boost. Air-conditioning maker Daikin Industries rose 3.83 percent. Advantest, a maker of chip testing equipment, gained 2.88 percent.

Marubeni Trading Co rose 4.62 percent to become the top gainer on the Nikkei index. Sogetz shares rose 4.57 percent.

This led to an increase in shares of the commercial companies sector, 3.19 percent, to record the best performance among the 33 sub-indices on the Tokyo Stock Exchange. Pharmaceutical shares rose 2.2 percent.

Mitsui Industrial Machinery Co. fell 1.81 percent, becoming the biggest loser on the Nikkei index.

Among the stocks listed on the Nikkei index, 195 stocks rose, 29 stocks fell, and one stock settled.