Japanese shares post 4th weekly gain on catch-up trade, chipmakers boost

TOKYO: Japanese shares closed higher on Friday to post their fourth straight weekly gain, as heavyweight chipmakers jumped, and some investors caught up on a recent rally.

Hopes from the new leadership, rising COVID-19 vaccinations and easing infections have powered a 8.58% jump in the Nikkei share average for the month so far. Despite a fall in the past two sessions, the index is still ending with a 0.39% weekly gain, marking an increase for fourth straight week.

The benchmark index rose 0.58% to close at 30,500.05, while the broader Topix gained 0.48% to 2,100.17.