The Nikkei added 0.7% to 28,656.19, and was earlier as high as 28,735.81, approaching Tuesday's eight-month high. For the week, it is set for a 0.32% gain, which would be a third straight weekly advance. The Topix ended 0.69% higher at 2,046.61, from as high as 2,052.80 earlier, only about 1 point shy of an eight-week peak. It is up 0.57% this week, also on track for a three-week win streak. "Most sectors are up, and that's because investors like the financial results from Japanese companies, as well as the gains for U.S. equities overnight," said Maki Sawada, a strategist at Nomura Securities. "The consensus is for no change to YCC by the BOJ today, and that's Nomura's view also. At the same time, the risk of a surprise tweak like in December can't be completely ruled out." Thirty of the Tokyo Stock Exchange's 33 industry groups rose. Of the Nikkei's 225 components, 188 rose versus 36 decliners, with one flat. Shipbuilder Mitsui E&S was by far the Nikkei's best performing stock, soaring 15.63% after strong earnings. Financial results were also behind surges for Kansai Electric Power , which jumped 12.01%, and sauce maker Kikkoman , which advanced 10.72%. Battery maker GS Yuasa climbed 7.42% following a Nikkei report that it would build a new EV battery plant with Honda Motor , which rose 1.19%. Automakers were overall strong, buoyed by a decline in the yen to as weak as 134.29 per dollar . Toyota rose 1.12% and Nissan added 1.46%. (Reporting by Kevin Buckland)
By Kevin Buckland
TOKYO, April 28 (Reuters) - Japan's Nikkei share average
rose on Friday, powered by a series of strong domestic earnings
reports, with a weaker yen and solid gains on Wall Street also
lifting the overall mood.
Caution ahead new Bank of Japan governor Kazuo Ueda's maiden
policy decision, expected in the early Tokyo afternoon, put some
pressure on gains mid-morning, but a Nikkei newspaper report
that the central bank would likely keep yield curve control
(YCC) settings unchanged buoyed the indexes into the lunch
break.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.