Nikkei rises to seven-week high on Wall Street gains

 

Japan's Nikkei share average edged up to a seven-week closing high on Friday, buoyed by a record finish on Wall Street but a sharp slide in heavyweight Fast Retailing weighed on the broader market.

 

The benchmark Nikkei rose 0.2% to 14,506.25, its highest close since May 24, while the broader Topix advanced 0.6% to 1,201.99.

 

Fast Retailing tumbled 5.8% after the operator of the Uniqlo fashion chain posted a disappointing operating profit for the quarter ended on May 31 and kept its full-year earnings guidance unchanged. The stock contributed 89 negative points to the Nikkei and was the second-most traded on the main board by turnover.