Nikkei Index Ends Three-Day Decline Amid Yen Weakness

The Nikkei index recovered 0.28% on Friday after a series of declines, supported by a weaker yen benefiting automakers. Despite this, it fell 2.4% over the week. Three major banks upgraded their annual profit forecasts, lifting financial stocks.


Nikkei Index Ends Three-Day Decline Amid Yen Weakness

World stock markets ended the session with mixed results on Friday. The Nikkei index in Japan recorded a three-day decline, supported by a weakened yen, which had a positive impact on the shares of automotive companies. After three major banks revised their annual profit forecasts upwards, shares in the financial sector also rose. The Nikkei index rose to a mark of 39101.64 points during the trading session but later declined due to selling for profit-taking. Ultimately, it closed at 38642.91 points, indicating a growth of 0.28%, but a drop of 2.4% for the week.

At the same time, the Topix index in Japan also finished the session on Friday with a rise of 0.39% to 2711.64 points, but for the week it lost 1.49%. American stock indices closed negatively on Thursday following the speech of Federal Reserve Chairman Jerome Powell.