TOKYO, April 9 (Reuters) - Japanese shares rose on Friday in
broad-based buying, driven by growing expectations that
companies will report healthy profits and issue upbeat forecasts
in the coming days as corporate earnings reports start to roll
The Nikkei 225 Index rose 0.43% to 29,837.54 by 0204
GMT, while the broader Topix gained 0.64% to 1,964.55.
Stocks in Tokyo got off to a bright start, taking their lead
from the S&P 500's record closing high and supportive
comments from U.S. Federal Reserve Chairman Jerome Powell on
Industrial robot and semiconductor manufacturing equipment
maker Yaskawa Electric Corp is scheduled to release its
earnings report on Friday. Its shares rose 0.34%.
Analysts said this could set the tone for Japan's industrial
sector, which is expected to benefit from a rebound in global
capital expenditure and rising investment to ease a shortage in
"This is just the beginning of the (equities) cycle," said
Junichi Inoue, head of Japanese equities at Janus Henderson
"This is going to be capex-driven and a bigger cycle than
previously. Japanese companies are very strong in capital
equipment. In general, the machinery sector should benefit."
The stock that gained the most among the top 30 core Topix
names was Sony Group Corp, up 2.52%. Hitachi Ltd
rose 2.5%, boosted by reports it was in talks to sell
its metals unit.
The underperformers among the Topix 30 were Seven & i
Holdings Co Ltd, down 2.35%, followed by Honda Motor Co
Ltd, losing 0.59%.
For the week, the Nikkei index was on course for a 2.3%
rise, bouncing back from a 2.1% decline in the previous week.
There were 177 advancers on the Nikkei index against 46
decliners on Friday.
The volume of shares traded on the Tokyo Stock Exchange's
main board was 0.55 billion, compared with the average
1.38 billion in the past 30 days.
(Reporting by Stanley White; Editing by Subhranshu Sahu)