TOKYO, Oct 15 (Reuters) - Japanese shares rose on Friday,
and were set to end the week up more than 2%, after Wall
Street's overnight gains helped boost technology heavyweights as
the earnings season is set to kick off.
However, Uniqlo owner Fast Retailing was the
biggest drag on the Nikkei, falling 0.5%, after the company
posted a weaker-than-expected profit forecast.
The Nikkei share average was up 1.05% at 28,851.70
by 0154 GMT, and the broader Topix gained 1.17% at
Both the Nikkei and the Topix are set to post first weekly
gains after three straight weeks of losses, rising 2.9% and
"Gains in high-tech shares gave big energy to the market
today. They rose because of a robust corporate outlook of
overseas firms," said Shigetoshi Kamada, general manager at the
research department at Tachibana Securities.
"Many Japanese companies are also expected to raise their
forecast for this year. That is going to be a tailwind for the
Wall Street advanced, with the S&P 500 posting its
biggest daily percentage advance since early March, following
strong earnings of companies including Morgan Stanley and
In Japan, chip making equipment maker Tokyo Electron
contributed to the Nikkei the most, rising 1.8%. Robot
maker Fanuc jumped 4.18%.
Audio and game maker Sony Group and
electronic-sensor maker Keyence lifted the Topix by
rising 1.59% and 2.74%, respectively.
Can Do, a popular chain that sells household goods
for 100 yen, was untraded on a glut of buy orders after retail
group Aeon announced a takeover bid.
A decliner was department store operator Takashimaya
, down 3.57%, after it cut its net profit forecast for
this fiscal year.
(Reporting by Junko Fujita; Editing by Amy Caren Daniel)