Japanese shares edge up as defensive stocks gain

Japanese shares edged up on Friday, as sentiment improved after fears of more aggressive US interest rate hikes receded, with defensive stocks such as construction and utilities outperforming.

The Nikkei rose 0.3 per cent to 21,791.68 in midmorning trade. For the week, the benchmark index was up 0.4 per cent.

Kajima Corp and Taisei Corp climbed 2.6 per cent and 1.7 per cent, respectively, and Tokyo Electric Power Co rose 1.8 per cent, reports Reuters.

Mining stocks also gained, with Inpex and Japan Petroleum Exploration both surging 2.0 per cent after oil prices rose to two-week highs.

Exporters were mixed. Some investors hesitated to take positions, on caution the US share market could see volatility again.

The broader Topix gained 0.4 per cent to 1,753.98.