This May 7, 2020 file photo shows the Tokyo Stock Exchange. (Mainichi)
TOKYO (Kyodo) -- Tokyo stocks ended higher Friday on growing expectations of a recovery in auto production after Toyota Motor Corp. said it will normalize domestic output following cutbacks due to supply chain disruptions caused by the coronavirus pandemic.
The 225-issue Nikkei Stock Average ended up 332.11 points, or 1.13 percent, from Thursday at 29,609.97. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 26.30 points, or 1.31 percent, higher at 2,040.60.
Gainers were led by real estate, iron and steel, and mining issues.
The U.S. dollar edged up to the lower 114 yen range as traders who had fled to the perceived safety of the Japanese currency took a risk on rising stocks, dealers said.
Shares were firm throughout the day. Toyota announced before noon that operations at all of its 14 plants in Japan will return to normal in December for the first time in seven months.
Carmakers have been forced to cut their production plans due to a worldwide semiconductor shortage, as well as parts shortages triggered by factory shutdowns in Southeast Asian countries due to the pandemic.
"With Toyota's announcement, expectations grew that other carmakers also have the prospect of securing semiconductors," said Koichi Fujishiro, a senior economist at Dai-ichi Life Research Institute.
Toyota Motor climbed 48.5 yen, or 2.4 percent, to 2,078.5 yen, Honda Motor advanced 41 yen, or 1.3 percent, to 3,279 yen and Mazda Motor rose 12 yen, or 1.2 percent, to 1,052 yen.
The market was also supported as investor concern about the Chinese economy eased somewhat after Alibaba Group Holding Ltd. reported brisk e-commerce sales during its Singles Day event that ended Thursday, brokers said, although they did not fully lower their guard against the possible bankruptcy of real estate giant Evergrande Group.
SoftBank Group, a shareholder in Alibaba Group, added 172 yen, or 2.6 percent, to 6,847 yen.
Ya-Man surged 110 yen, or 8.3 percent, to 1,430 yen after the maker of facial beauty devices said it saw strong sales during Singles Day.
Meanwhile, Kikkoman gained 330 yen, or 3.5 percent, to 9,680 yen after announcing it will raise prices for soy sauce for the first time since 2008 amid rising raw material costs.
On the First Section, advancing issues outnumbered decliners 1,697 to 421, while 64 ended unchanged.
Trading volume on the main section rose to 1,321.45 million shares from Thursday's 1,190.30 million shares.
Font Size S M L Print Timeline 0