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Japan’s Nikkei index rises for 9th consecutive week
Sharp rise in Nikkei index
Japan’s Nikkei index rose sharply today, Friday, posting an increase for the ninth consecutive week as investors feel comfortable setting the final settlement price.
The Nikkei index rose 1.97% to close at 32,265.17 points, making the biggest one-day gain since last Monday. The index rose 2.35% for the week, erasing a nearly 4% loss over the past two days, after climbing to a 33-year high on Wednesday.
Other gains in the market
The broader Topix index rose 1.50% to 2,224.32 points, and was up 1.9% for the week.
Settlement price and key players
The final settlement price, which is being monitored closely, was set at 32,018.38 points. It is calculated based on the opening prices of 225 Nikkei-listed shares on the second Friday of the month.
Fast Retailing, which owns the Uniqlo brand, jumped 4.6%, giving the Nikkei the biggest boost. Air conditioner maker Daikin Industries climbed 3.83%. Advantest, a manufacturer of equipment for the test of chips, gained 2.88%.
Biggest gainers and losers
Marubeni Trading Company’s share increased by 4.62%, becoming the biggest gainer on the Nikkei index. Sogetz shares rose 4.57%.
Mitsui Industrial Machinery Co. fell 1.81%, becoming the biggest loser on the Nikkei index.
This led to a 3.19% increase in shares of the commercial companies sector, recording the best performance among the 33 sub-indicators of the Tokyo Stock Exchange. Pharma stocks rose 2.2%.
Stocks on Nikkei index
Of the stocks listed on the Nikkei index, 195 stocks rose, 29 stocks fell, and one stock stabilized.