Tokyo stocks close up

A man looks at his watch as he passes an electronic board displaying a graph of currency rates outside a brokerage in Tokyo.

A man looks at his watch as he passes an electronic board displaying a graph of currency rates outside a brokerage in Tokyo.

Published Oct 3, 2014

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Tokyo - Tokyo stocks closed up 0.30 percent in see-saw trading on Friday as investors awaited key US jobs data later in the day.

The benchmark Nikkei 225 index, which was in negative territory at the break, added 46.66 points to finish at 15,708.65, while the Topix index of all first-section shares rose 0.19 percent, or 2.39 points, to 1,282.54.

“Overseas investors aren't doing much in wait for the US non-farm payrolls data due later tonight,” said an equity trading director at a European brokerage.

“As Japanese exporters are starting to publish earnings revisions, the scale of their view changes could have a profound impact in justifying current stock prices, as things currently look fully valued,” the trader told Dow Jones Newswires.

The yen's recent weakness may see firms boost their profit expectations ahead of earnings season later this month.

On Thursday the Nikkei dropped 2.61 percent, dragging the index below the 16,000 level, following a global equity market selloff.

The dollar backed off Thursday, a day after breaking the 110 yen barrier for the first time in more than six years.

However, it recovered slightly late Friday to sit at 108.90 yen, against 108.42 yen in New York.

In share trading, Toyota closed up 0.23 percent at 6,290.0 yen, Sony fell 0.49 percent to 1,895.0 yen while Hitachi edged up 0.01

percent to 813.2 yen.

Mobile carrier SoftBank fell 0.73 percent to 7,439.0 yen after saying Thursday it was investing $250 million and forming a joint venture with Hollywood film studio Legendary Entertainment.

Legendary's catalogue includes a recent re-make of “Godzilla” as well as Superman film “Man of Steel”.

Skymark Airlines soared 8.37 percent to 220 yen, adding to a 3.57 percent rise on Thursday.

The stock rose on reports that Airbus had agreed to significantly reduce a penalty against the carrier over the cancellation of a $2.2 billion (R25 billion) jet deal.

The airline later confirmed that the firms were in talks, but it declined to comment further. - Sapa-AFP

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