INSUBCONTINENT EXCLUSIVE:
Japan's Nikkei ended slightly higher on Friday, as chip-related stocks tracked Wall Street's strong overnight performance, but the index
snapped a three-week winning streak on caution ahead of the U.S
The Nikkei was up 0.06% at 39,810.88, after hitting an intraday high of 40,012.66
The benchmark index fluctuated between negative territory and modest gains throughout the session
For the week, the Nikkei slipped 0.85%, snapping a three-week winning streak.The broader Topix was flat at 2,827.95
"Investors remained optimistic about the market outlook, but the Nikkei is still vulnerable," said Shuutarou Yasuda, a market analyst at
Tokai Tokyo Intelligence Laboratory.
Live Events "As soon as it hit the 40,000 level, there was a sell-off to book profits," he said
Wall Street rallied on Thursday to record closing highs, as chipmaker Nvidia rose closer to a $4 trillion valuation and a surprisingly
jobs report cheered investors, who shrugged off dimming chances for an interest rate cut this month
Investors remained cautious and refrained from making active bets on Japanese stocks at the end of the week, as they awaited a key U.S
trade tariff deadline next week, strategists said.Chip-related stocks led the gains on the Nikkei, with Advantest rising 1.38% and Tokyo
Electron gaining 0.46%.Banking shares advanced as Japanese government bond yields tracked U.S
Solid job gains in the U.S
bolstered the case for the Federal Reserve to keep interest rates on hold.The bank sector rose 1.29%, with shares of Mitsubishi UFJ
Financial Group climbing 1.16%
Utility sector rose 1.3% to become the top gainer among the 33 industry sub-indexes on the Tokyo Stock Exchange
Uniqlo-brand owner Fast Retailing fell 0.6% to weigh on the Nikkei the most.
