TOKYO, Jan 30 (Reuters) - Japan's Nikkei index rose on
Monday, tracking Wall Street's climb in the previous session,
although the gains were capped by caution ahead of the Federal
Reserve's meeting and domestic corporate earnings announcements.
The Nikkei share average was up 0.33% at 27,473.75
by the midday break, while the broader Topix inched
0.14% higher at 1,985.42.
The week is filled with market-moving cues, so investors are
being more cautious, said Shigetoshi Kamada, general manager at
the research department at Tachibana Securities.
"I am unsure if this (upbeat) momentum will continue this
week. Investors are cautious and could sell stocks to book
profits ahead of the Fed meeting, U.S. employment data as well
as domestic corporate results."
Wall Street rose on Friday, marking the end of a rocky week
in which economic data and corporate earnings guidance hinted at
softening demand but also economic resiliency ahead of the U.S.
Federal Open Market Committee (FOMC) this week. A string of high profile earnings reports are on tap
globally, notably from Apple Inc , Amazon.com ,
Alphabet Inc and Meta Platforms , among
others.
Investors are also reacting to Japanese corporate outlook as
the earnings season reaches its peak this week.
Fanuc jumped 4.25% after the robot maker raised its
annual operating profit outlook and announced a 5-for-1 stock
split. Shin-Etsu Chemical , up 4.48%, posted a fourth
straight session of gains as the silicon wafter maker raised its
annual operating profit outlook.
Japanese semiconductor equipment makers showed muted
reaction to news that Washington had made progress towards a
deal to curb exports of some advanced chip-making equipment to
China with several governments.
Tokyo Electron rose 0.54% and Advantest inched up 0.21%, while Nikon rose 0.48%.
(Reporting by Junko Fujita; editing by Uttaresh.V)
