Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
News
All NewsCompaniesIndexesCurrency / ForexCommoditiesCryptocurrenciesETFInterest RatesEconomyThemesSectors 

Japan's Nikkei set for biggest weekly gain in 4 months

07/21/2022 | 11:29pm EDT

TOKYO, July 22 (Reuters) - Japan's Nikkei index was set on Friday for its biggest weekly rise in almost four months, as markets extended their winning run led by gains in growth stocks and shipping firms.

The Nikkei share average had climbed 0.24% to 27,870.33 by the midday break after swinging between small losses and gains in early trade.

The index has added more than 4% so far this week in what would be its biggest weekly gain since March 25. It will mark its seventh straight winning session if gains hold.

The broader Topix inched up 0.07% to 1,951.98 and was set to post a 3.14% weekly gain.

U.S. stocks rose on Thursday, boosted by a late-afternoon rally and gains in heavyweight growth stocks, including Tesla .

"Investors were cautious ahead of major events next week, such as corporate earnings," said Maki Sawada, a strategist at Nomura Securities, adding that early losses were spurred profit-taking.

Staffing agency Recruit Holdings rose 2.03% and provided the biggest support for the Nikkei. Uniqlo clothing shop owner Fast Retailing rose 0.35% and chip-making equipment maker Tokyo Electron added 0.54%.

The shipping sector jumped 5.46% after three major firms raised their annual profit forecasts.

Kawasaki Kisen surged 11.65%, Nippon Yusen jumped 4.62%, and Mitsui OSK Lines advanced 3.96%.

Utility shares weakened, with Tokyo Electric Power Company Holdings Inc falling 6.18% and Osaka Gas Co losing 2.95%, while Chubu Electric Power slipped 2.53%.

(Reporting by Junko Fujita; Editing by Subhranshu Sahu)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CHUBU ELECTRIC POWER CO., INC -1.47% 1275 Delayed Quote.6.77%
FAST RETAILING CO., LTD. 1.48% 79740 Delayed Quote.20.32%
KAWASAKI KISEN KAISHA, LTD. 1.65% 2153 Delayed Quote.-8.18%
MITSUI O.S.K. LINES LTD 1.84% 2822 Delayed Quote.-2.66%
NIKKEI 225 0.70% 27311.3 Real-time Quote.-5.80%
NIPPON YUSEN KABUSHIKI KAISHA 0.80% 2631 Delayed Quote.-10.62%
OSAKA GAS COMPANY., LTD. -0.58% 2221 Delayed Quote.17.52%
RECRUIT HOLDINGS CO., LTD 0.41% 4428 Delayed Quote.-36.75%
TESLA, INC. -1.11% 238.13 Delayed Quote.-31.64%
TOKYO ELECTRIC POWER COMPANY HOLDINGS, INC. -1.50% 461 Delayed Quote.57.58%
TOKYO ELECTRON LTD. 2.76% 39140 Delayed Quote.-42.53%
TOPIX INDEX 0.50% 1922.47 Delayed Quote.-3.99%
Latest news "Economy"
05:46pWalmart to lay off about 1,500 workers at Atlanta fulfillment center
RE
05:40pRepublican U.S. senator seeks to put bill pressuring OPEC+ onto defense bill
RE
05:37pThe WSJ Dollar Index Rises 0.78% to 103.87 -- Data Talk
DJ
05:37pEuro Lost 0.93% to $0.9793 -- Data Talk
DJ
05:37pSterling Lost 1.46% to $1.1162 -- Data Talk
DJ
05:37pDollar Gains 0.31% to 145.14 Yen -- Data Talk
DJ
05:34pMan who pleaded guilty in Michigan governor kidnap plot sentenced to 4 years
RE
05:33pUK businesses most downbeat about profits since Q4 2020 - BCC
RE
05:33pDogecoin Lost 0.67% to $0.064 at 5 p.m. ET -- Data Talk
DJ
05:33pUtilities Down as Treasury Yields Rise -- Utilities Roundup
DJ
Latest news "Economy"