TOKYO, Nov 15 (Reuters) - Japan’s Nikkei share average rebounded on Friday after White House comments suggesting Washington and Beijing were close to striking a trade deal sparked buying in cyclical and financials.
The Nikkei 225 index rose 0.71% to 23,305.71, though it was slightly down for the week. The broader Topix gained 0.8% to 1,697.83.
White House economic adviser Larry Kudlow said on Thursday an agreement with China could be reached soon, providing a fillip to investor confidence.
High-beta shares, or those that are sensitive to economic cycles, such as shippers and brokerages, were among the biggest gainers.
Other gainers included companies whose results surprised positively.
Japan Post Insurance, hit by a scandal involving improper sales practices, rose 5.8% after it posted strong profits.
Another scandal-ridden financial institution, Suruga Bank , also advanced 6.4% after its results.
Kadokawa climbed 5.9% to 2 1/2-year highs after the publishing and web services company raised its profit outlook.
Asahi Intecc rose 4.4% after the medical equipment maker’s quarterly profits beat market expectations.
Among losers, Line fell 4.5% and Z Holdings declined 5.1% after massive gains the previous day on news that the two technology firms are in merger talks.
Reporting by Tokyo Markets Team; editing by Uttaresh.V