Tokyo—Tokyo’s stock market concluded with gains on Friday, driven by a surge in energy shares as oil prices soared, though the rise was tempered by investors’ cautious anticipation of impending U.S. employment data.
According to Namibia Press Agency, the 225-issue Nikkei Stock Average climbed modestly by 83.56 points, or 0.22 percent, to close at 38,635.62, while the broader Topix index saw a slightly stronger increase of 10.36 points, or 0.39 percent, ending the day at 2,694.07. Analysts noted that the stock market’s positive performance was primarily led by sectors such as mining, and oil and coal products. This uptick was largely attributed to concerns over stable supply amidst escalating tensions in the Middle East, which pushed crude oil futures higher.
However, the market’s advances were checked by a general hesitance among investors to make more aggressive moves without first assessing the U.S. jobs data, scheduled for release later in the day. This data is expected to provide crucial insights into the health of the U.S. economy and guide expectations regarding the Federal Reserve’s future policy decisions.