Tokyo stocks edge up over Wall Street gains

TOKYO, Oct. 18 (Xinhua) — Tokyo stocks edged up on Friday, following overnight gains on the U.S. stock market, although weak semiconductor-related shares dampened the upward momentum.
Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, rose 0.18 percent, or 70.56 points, to close at 38,981.75.
Tracking the positive performance of the U.S. stock market overnight, the Nikkei briefly rose by more than 200 yen but pared back gains in the afternoon as semiconductor-related stocks continued to face selling pressure.
With the approaching of major corporate earnings reports, key political events in Japan and the U.S., analysts reckoned investors’ sentiment would remain cautious.
Pre-election polling for Japan’s general election on Oct. 27 indicated that the ruling Liberal Democratic Party may struggle to secure a majority, raising concerns among investors.
The broader Tokyo Stock Price Index also gained, closing 1.15 points, or 0.04 percent higher, at 2,688.98.
Of the listed stocks on the top-tier Prime Market, 757 gained value, 798 declined, and 89 remained unchanged. ■