Japanese shares edge higher

Published: October 26, 2017 13:51:21 | Updated: October 26, 2017 15:56:50


File Photo (Reuters)

Japan’s Nikkei share average edged up on Thursday, lifted by shares backed by strong earnings and shrugging off Wall Street weakness.

The Nikkei was 0.2 per cent higher at the end of morning trading at 21,742.98. On Wednesday, the Nikkei ended lower, snapping an unprecedented 16-day rising streak, reports Reuters.

Against the yen, the dollar stuck to recent ranges, down 0.2 per cent at 113.53 yen, below a three-month high of 114.245 yen touched on Wednesday.

Fanuc Corp was up 2.3 per cent after hitting more than two-year highs.

Panasonic Corp shares rose 1.8 per cent to touch more than two-year highs.

Daiwa Securities Group jumped 4.9 per cent after posting higher operating and recurring half-year profit and announcing a share buyback.

That helped boost the securities sub-index 2.3 per cent.

But Advantest Corp skidded 4.1 per cent after the chip-making equipment maker cut its net profit outlook for the fiscal year ending March 2018 to 14.5 billion yen from 15 billion yen.

The broader Topix edged up 0.1 per cent to 1,752.79, while the JPX-Nikkei Index 400 also rose 0.1 per cent to 15,522.93.

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