However, market gains capped, as market participants locked in gains after the Nikkei's advance of more than 3% over the last four trading days and ahead of key events, including the Bank of Japan's two-day policy meeting through Friday.
The 225-issue Nikkei Stock Average index was up 178.96 points, or 0.63%, to finish at 28,623.15. The broader Topix index of all First Section issues on the Tokyo Stock Exchange increased by 19.88 points, or 0.97%, to 2,071.09.
Shares of retail, airline and railway issues on expectations of a revival in demand for travel, after border restrictions on passengers traveling from China were relaxed last week. Department store operator Isetan Mitsukoshi Holdings gained 1.8% to 1,510 yen and Pan Pacific International Holdings advanced 1.2% to 2,670 yen. East Japan Railway surged 2% to 7,359 yen, while Japan Airlines climbed 1.2% to 2,657 yen.
ECONOMIC NEWS: Japan's gross domestic product was flat on a seasonally adjusted quarterly basis in the fourth quarter of 2022, the Cabinet Office said on Thursday. That was following the 0.3% contraction in the third quarter. On an annualized basis, GDP rose 0.1% following the 1% decline in the three months prior.
The M2 money stock in Japan was up 2.6% on year in February, the Bank of Japan said on Thursday - coming in at 1,209.1 trillion yen. That was down from 2.7% in January. The M3 money stock rose an annual 2.2% to 1,565.1 trillion yen, down from the 2.3% increase in the previous month. The L money stock climbed3.9% on year to 2,085.7 trillion yen, accelerating from the 3.7% gain a month earlier.
CURRENCY NEWS: The dollar strengthened to around upper 136 yen level in late Tokyo trading on Thursday, after it climbed above the 137 yen line amid expectations of larger interest rate hikes by the Federal Reserve.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content