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Nikkei 225 Up 0.9% on Earnings, Tech Shares

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Last updated: 08/05/2022 05:55:59

05:55 AM EDT, 08/05/2022 (MT Newswires) -- The Nikkei 225 opened evenly Friday and rose to the close, finishing up 0.9% as traders weighed the unfolding earnings season and bought into tech issues.

The benchmark Nikkei 225 rose 243.67 to 28,175.87, as gaining issues outnumbered losers 147 to 75.

Leading the upside were soy-sauce maker Kikkoman (KIKOF, 2801:Tokyo), up 9.3% after posting earnings, followed by Nippon Steel (NISTF, 5401:Tokyo), up 8.3%, and then conglomerate Marubeni (MARUY, 8002:Tokyo), up 5.8%.

On the downside were game-maker Konami (KNAMF, 9766:Tokyo), off 3.9%, and then construction concern Taisei (1801:Tokyo), off 3.3%.

The Nikkei 225 is down 2.1% year-to-date.

In other news, household spending in Japan rose a real 3.5% in June from a year earlier, and gained a seasonally-adjusted real 1.5% from May, the Ministry of Internal Affairs and Communications reported. Easing pandemic restrictions were cited for the gains.

Average spending by households with two or more people in June posted at 276,885 yen ($2,078), reported the ministry.

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