As investor focus shifted to significant central bank decisions next month, Japan's Nikkei share average continued its weekly upward trend on Friday.
Before finishing up 0.2% at 50,253.91, the Nikkei 225 index wavered between gains and losses. Although the gauge had a 3.4% weekly gain, this month's 4.2% decline represents the lowest November performance since 2011. On the day, the overall Topix increased by 0.3%.
Due to the U.S. markets being closed on Thursday for the Thanksgiving holiday, there were little trading cues. While recent gains in U.S. technology companies depended on whether the Federal Reserve cut interest rates in December, faster core inflation in Tokyo reinforced prospects for a Bank of Japan rate hike next month.
"With limited catalysts, aggressive buying activity is limited," stated Maki Sawada, a strategist at Nomura Securities. "Heading into December, the current market focus is on monetary policy developments in Japan and the U.S."
A delay in the Fed's rate cut "could trigger a decline in major high-tech stocks," she stated. The Nikkei index saw 143 gains and 80 decreases.
Okuma saw the biggest increase of 6.7%, followed by Furukawa Electric's 4.7%. Mitsui Kinzoku, down 2.1%, and Toho, down 2%, were the biggest losers.
