“Not all corporate earnings expectations were necessarily positive. We saw positive results, but we also saw disappointing results,” said Seichi Suzuki, senior equity market analyst at Tokai Tokyo Research Institute.
“However, many companies announced share buybacks and other measures to deliver returns and dividends to shareholders. This boosted investor sentiment and provided market support,” he added.
stock market performance
Mitsubishi Corp. and its peers announced throughout the week that they would continue to reward shareholders in the current fiscal year, whether through higher cash dividends, share buybacks or both.
Mitsubishi shares edged down 0.02% on Friday, but rose 6.3% on the week.
Tokyo Electron Co. made up for early losses, closing 3.21% higher, although Japan’s leading semiconductor equipment maker warned that full-year operating profit would fall short of expectations.
Its counterpart, Advantest Corp, rose 3.32%.
However, the “Soft Bank” group bucked the general trend and its share fell by 3.68%, which put pressure on the Nikkei index, after the company, which pumps investments in the field of technology, announced annual losses almost three times higher. than market expectations.
The Nikkei index ended the session up 0.9%, recording 29,388.30 points, the highest close since November 2021, and over the whole week the index was up 0.79%.
The broader Topix index rose 0.64% to 2,096.39 points, registering a weekly rise of 1%.
Read the Latest World News Today on The Eastern Herald.
