Japan's Nikkei marks best week since 2024 on earnings, tech investment optimism
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Japan's Nikkei share average surged 1.84% to close at 56,924.11, marking its best week since August 2024 with a 7.1% rise over five sessions. Optimism over corporate earnings, particularly from Fast Retailing, and technology investments drove the gains, despite concerns about a fragile ceasefire in the Middle East. The broader Topix index slipped 0.04%. Major tech stocks like Fujikura and Kioxia also saw significant gains, while some stocks like BayCurrent and Mercari declined. Analysts suggest selective buying is boosting momentum, but caution remains regarding future developments.
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