TOKYO, Oct 9 (Reuters) - Japanese stocks rose on Friday as commodities and materials rebounded and expectations the U.S. Federal Reserve might raise interest rates this year were further eroded by minutes from the Fed’s September meeting.
The Nikkei share average jumped 1.6 percent to 18,438.67 to end the week up by 4 percent, its first weekly gain since the week ended September 11.
Investors continued to shift out of retail and inbound tourism-related shares and into cyclicals and commodities, according to market players.
Index heavyweight Fast Retailing shed 9.8 percent after missing its annual profit target, dragging down the retail sector which edged down 0.2 percent.
The broader Topix gained 2.3 percent to close at 1,515.13, with all but 2 of its 33 subindexes in positive territory. The index added 4.9 percent this week.
The JPX-Nikkei Index 400 climbed 2.4 percent to 13,589.07.
Reporting by Joshua Hunt; Editing by Shri Navaratnam