The Japanese stock index recorded weekly gains at the close today
Japan’s Nikkei stock index rose at Closingtoday, Friday, to consolidate its weekly gains, with traders’ focus shifting towards the decisions of the Federal Reserve (the US central bank) and the Bank of Japan regarding interest rates next month.
The Nikkei index swung between Rise and fall before closing 0.2% higher at 50,253.91 points. The index gained 3.4% during the week, but its loss of 4.2% this month represents the worst performance in November since 2011 for the index.
The broader Topix index rose 0.3% at the end of trading.
Trading volumes were weak in light of the US markets yesterday, Thursday, due to the holiday. The acceleration in core inflation in Tokyo has raised the possibility of the Bank of Japan raising interest rates next month, while the recent rise in US technology stocks has become dependent on whether the US central bank will cut interest rates in December.
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