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Nikkei rises in choppy trade as Fast Retailing surges
October 14, 2016 / 6:21 AM / a year ago

Nikkei rises in choppy trade as Fast Retailing surges

TOKYO, Oct 14 (Reuters) - Japan’s Nikkei share average rose in choppy trade on Friday as index heavyweight Fast Retailing Co’s strong gains offset negative sentiment from Wall Street’s weakness overnight.

The Nikkei ended 0.5 percent higher after trading in negative territory earlier. The benchmark index was nearly flat for the week.

The broader Topix gained 0.4 percent to 1,347.19 and the JPX-Nikkei Index 400 added 0.3 percent to 12,046.36.

Fast Retailing jumped 5 percent after the owner of the Uniqlo casual-wear brand said it expected operating profit to jump 38 percent to a record high 175 billion yen ($1.70 billion) for the year ending in August 2017.

Fast Retailing’s good news contributed a hefty positive 64 points to the Nikkei. ($1 = 102.9000 yen) (Reporting by Ayai Tomisawa in Tokyo; Editing by Gopakumar Warrier)

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