Japan's Nikkei hits 4-month high as earnings power rise

Xinhua
17 Nov 2023, 19:44 GMT+10

TOKYO, Nov. 17 (Xinhua) -- Tokyo stocks closed higher on Friday, with the Nikkei index hitting a four-month high, cheered by optimism following a strong domestic earnings season that just wrapped up.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended up 160.79 points, or 0.48 percent, from Thursday at 33,585.20, its highest close since July 3.

The broader Topix index, meanwhile, finished 22.43 points, or 0.95 percent, higher at 2,391.05.

On the stock market, investors were optimistic following the strong performances reported by Japanese firms so far this earnings season, as well as hopes the Fed's rate hike campaign will be over sooner than later, analysts said.

On the top-tier Prime Market, gainers were led by air transportation, precision instruments and construction issues.

Japan Airlines climbed 66.5 yen, or 2.4 percent, to 2,886.0 yen, while ANA Holdings, the parent company of All Nippon Airways Co., rose 97 yen, or 3.2 percent, to 3,124 yen. (1 Japanese yen equals 0.0067 U.S. dollar)

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