Has risen Japanese Nikkei Index For the ninth session in a row today, Friday, in the longest streak of consecutive gains since September 2019, as investors repurchased cheap shares even after the recent rise pushed traders to take profits.
“Nikkei” changed its direction to rise 0.14% to 28149.84 points, and the index rose 4.93% this week.
The broader Topix index settled at 1981.47 points, but recorded a weekly gain of 3.78%.
“Investors have internalized the impact of the ongoing Russian-Ukrainian war, while US interest rate increases have already been taken into account,” said Masahiro Ichikawa, chief market analyst at Sumitomo Mitsui DS Asset Management.
And Tokyo Electron, a chip equipment manufacturer, gained 0.63%.
Shionoji Corp. jumped 4.49% after the pharmaceutical company signed an agreement with the Japanese government to provide it with an oral treatment for COVID-19 that the company is currently developing.
On the other hand, the shares of SoftBank Group for Technology Investment and KDDI Phone Company declined by 0.25% and 1.85%, respectively.