Japan’s Nikkei share average was nearly flat on Friday, with weakness in exporters countered by strong gains in index-heavy Fast Retailing after the clothing company posted record quarterly profit.
The Nikkei edged 0.1 per cent lower to 23,692.99, hovering at its 5-day moving average of 23,692.18. For the week, it has shed 0.1 per cent so far.
Fast Retailing Co jumped more than 5.0 per cent and contributed a hefty 113 positive points to the Nikkei after it posted a 28.6 per cent jump in its operating profit to 113.9 billion yen ($1 billion) for the first quarter, a record quarterly profit, reports Reuters.
Exporters took a hit as the yen has stayed on the stronger side. The dollar was at 111.14 yen after plumbing a six-week low of 111.05 yen on Thursday.
Olympus tumbled 3.1 per cent, Kyocera dropped 1.9 per cent and Nissan Motor declined 0.6 per cent.
The food sector was also weak, with Ajinomoto falling 1.5 per cent and Kikkoman shed 1.2 per cent.
The broader Topix shed 0.5 per cent to 1,878.41.
