Nikkei gains on strong corporate earnings

Japan’s Nikkei share average rose on Friday as strong company earnings led by Nomura Holdings and Advantest Corp buoyed the sentiment, but a sell-off in index-heavyweight SoftBank Corp limited the gains.

The Nikkei ended 0.4 per cent higher at 17,674.39. For the week, the Nikkei gained 0.9 per cent, while it rose 1.3 per cent for the month.

The broader Topix added 0.1 per cent to 1,415.07 and the JPX-Nikkei Index 400 advanced 0.1 per cent to 12,830.17.

SoftBank Corp fell 3.4 percent and contributed a hefty 28.74 negative points to the Nikkei after Alibaba Group Holding Ltd reported lower-than-expected revenues for the third quarter. SoftBank has a 32.59 per cent stake in Alibaba.

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