In the week ended on October 19, the benchmark Nikkei 225 on the Tokyo Stock Exchange closed at 9,002.68 after five days on the rise, to post the best weekly gain this year of 5.50 percent, or 468.56 points.
The broader Topix index of all first-section issues rose 5.02 percent to 754.39.
Analysts expected the stock market to stay robust, but Kenji Shiomura, strategist at Daiwa Securities. said it may need to “adjust its pace after the recent rapid gains”.
“Broadly, however, the risk-on sentiment is likely to continue” with eased worries over the global economy, he said.
“The US economy looks solid while the Chinese economy may not be in such a bad shape as feared before as the growth data this week and indicators last weekend suggested,” he said.
Data on Thursday showed China’s economic growth eased to 7.4 percent in the three months to September from expansion of 7.6 percent in the previous quarter, but analysts said the slowdown has almost bottomed out.
Shiomura expected the Nikkei index to move between 8,800 and 9,100 next week.
Japanese trade statistics for September will be out Monday and consumer prices are published on Friday. The first batch of major Japanese companies’ results for April-September also due to be released. afpFeel
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