Tokyo stocks ended 0.18 per cent higher today (July 30th) to 15,646.23, boosted by a weak yen and positive Japanese corporate earnings.
Japan’s Nikkei share average was close to six-month highs as companies such as Honda Motor Co and Tokyo Electron Ltd posted results that eclipsed previous data showing weak industrial output.
Honda jumped 3.6 per cent and was the most traded stock by turnover after reporting a 7.1 per cent rise in operating profit, beating analyst estimates.
The broader Topix was flat at 1,290.78, and the JPX-Nikkei Index 400 was also unchanged at 11,755.91.
“Stock prices have been underpinned by solid earnings reports” from key Japanese companies, Akira Tanoue, a deputy managing director at Nomura Securities Co, told the Japan Times.
“I believe expectations are also high for the rest of companies, which will release their earnings” today and Thursday, when the April-June earnings reporting season peaks, he added.