Nikkei edges up in 5th day of gains, Wall Street supports

jueves 16 de julio de 2015 22:44 GYT

* The Nikkei has risen 4.4 pct for the week
    * Gains limited before 3-day weekend - traders
    * Sharp tumbles on report it's set to post operating loss

    By Ayai Tomisawa
    TOKYO, July 17 (Reuters) - Japanese stocks extended their
rise into a fifth day on Friday morning thanks to strength on
Wall Street, but gains were capped as investors refrained from
taking big positions before a long weekend.
    The Nikkei share average edged up 0.2 percent to
20,647.84 in midmorning trade. For the week, the benchmark has
jumped 4.4 percent, heading for the biggest weekly gain since
last October.
    Wall Street ended higher on Thursday helped by strong
earnings reports.
    Market participants said that most investors will likely
stay on the sidelines during the session before the long weekend
in Japan. Monday is a national holiday in Japan.
    "I don't think worries about a rout in Chinese shares are
completely over," said Hiroyuki Nakai, chief strategist at Tokai
Tokyo Research Center. 
    He said Japanese stock could be pressured again if
foreigners turn sellers on any further shakeout in Chinese
markets next week. However, retail investors who actively bought
Japanese shares last week, could limit any downside.
    In the previous week when the Nikkei benchmark fell to a
3-month low, retail investors' net buying in Japanese cash
stocks was 527 billion yen, the largest net buying since January
2014, according to data released by Japan Exchange Group.
    On the other hand, foreign investors' net selling in cash
stocks was 438.3 billion yen, the largest since January this
year. Combined with futures' net selling of 1.15 trillion yen,
their total net selling was a record high, according to
    Financial stocks were higher, with Mitsubishi UFJ Financial
Group rising 1.7 percent and Sumitomo Mitsui Financial
Group gaining 0.9 percent.
    Underperforming the market was Sharp Corp which
tumbled more than 4 percent after the Nikkei business daily
reported that it is set to swing to an operating loss in the
April-June quarter. 
    The broader Topix was flat at 1,661.50 and the
JPX-Nikkei Index 400 gained 0.1 percent to

 (Editing by Shri Navaratnam)