The 225-issue Nikkei Stock Average index advanced 86.63 points, or 0.31%, to finish at 27,670.98. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 1.96 points, or 0.1%, to 1,986.96.
Total 18 of 33 TSE sectors advanced, with Iron & Steel, Insurance, Other Products, Banks, Machinery, and Pulp & Paper issues being notable gainers. Oil & Coal Products, Real Estate, Air Transportation, and Mining issues were notable losers.
ECONOMIC NEWS: Japan Producer Prices Remain Flat In January- Producer prices in Japan were flat on month in January, the Bank of Japan said on Friday. On a yearly basis, producer prices jumped 9.5% - again missing forecasts for 9.6% following the upwardly revised 10.5% spike in the previous month (originally 10.2%). Export prices were up 0.1% on month and 1.1% on year, the central bank said, while import prices fell 1.2% on month and climbed 7.2% on year.
CURRENCY NEWS: Japanese yen appreciated to upper 130 level against greenback after a report said the Japanese government was set to appoint an economist as the central bank's next governor. The Japanese government has decided to nominate academic Kazuo Ueda as the next governor of the BOJ, and former head of Japan's Financial Services Agency Ryozo Himino and BOJ executive Shinichi Uchida as deputy governors. The dollar stood at 130.93 yen in late Tokyo trading Friday, down 0.5% from 131.56 on Thursday, after trading in the range of 129.82-131.85.
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