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Tokyo: Nikkei index closes higher after Trump speech
[TOKYO] Tokyo's key Nikkei index edged up on Wednesday as US President Donald Trump's State of the Union address appeared to have a limited impact on the market.
Japan's benchmark Nikkei 225 index gained 0.14 per cent or 29.61 points to end the session at 20,874.06, but the broader Topix index slipped 0.05 per cent or 0.75 points to 1,582.13.
"There was limited impact from the State of the Union address as it was within expectations, although the yen strengthened slightly," Makoto Sengoku, market analyst at Tokai Tokyo Research Institute, told AFP.
Carmaker Toyota revised down its full-year profit forecast following a 30-per cent slump in net profits, which also dampened sentiment on the Tokyo market, the analyst added.
Toyota shares ended down 0.72 per cent at 6,703 yen.
Mr Trump was giving his annual State of the Union speech during Tokyo trading hours, vowing again to build a wall on the Mexican border.
This topic has rattled investors in the past as controversy over the wall could lead to Mr Trump declaring a national emergency.
Tokyo investors also continued to watch corporate earnings reports, analysts said.
After the market close, SoftBank Group said its net profit jumped more than 50 percent for the nine months to December.
SoftBank ended up 0.54 percent at 8,462 yen.
Small car specialist Suzuki was down 4.32 per cent at 5,505 yen after its third-quarter operating profit was lower than market expectations.
Some other exporters were higher, with Panasonic closing up 2.80 per cent at 1,064 yen and Olympus gaining 2.73 per cent to 4,690 yen.
The dollar changed hands at 109.71 yen in late Asian trade, down from 109.97 yen in New York late Tuesday.