TOKYO, Nov 15 (Reuters) - Japanese stocks rebounded on Friday as White House comments that Washington and Beijing were close to striking a trade deal sparked buying in cyclical and financials.
The benchmark Nikkei share average rose 0.7% to 23,303.32, though it was 0.4% down for the week.
White House economic adviser Larry Kudlow said on Thursday an agreement with China could be reached soon, providing a fillip to investor confidence.
The broader Topix gained 0.7% to 1,696.67, with all but two of its 33 subsectors finishing in positive territory.
High-beta shares, or those that are sensitive to economic cycles were among the biggest gainers, with shippers advancing 1.6% and brokerages climbing 1.4%.
Interest rate-sensitive REITs performed well on falling global bond yields, with TSE REIT index up 1.2%.
Other notable gainers included companies whose earnings results surprised positively.
Japan Post Insurance, hit by a scandal involving improper sales practices, jumped 5.9% after it forecast a 11.7% year-on-year increase in net profit for the current financial year through March.
Another scandal-ridden financial institution, Suruga Bank , soared 7.4% on its April-September earnings results.
Kadokawa surged 6.1% to 2 1/2-year highs after the publishing and web services company raised its profit outlook.
Asahi Intecc rose 4.4% after the medical equipment maker’s quarterly profits beat market expectations.
Among losers, messaging app firm Line shed 4.7% and the operator of Yahoo Japan Z Holdings dived 7.1% after massive gains the previous day on news that the two technology firms are in merger talks.
“Now that mid-year earnings season is almost over and given a lack of fresh trading cues, it’s a little bit of a Goldilocks situation today,” a trader at an equity investment firm said. (Reporting by Tomo Uetake & Hideyuki Sano; Editing by Uttaresh.V and Shailesh Kuber)