The Nikkei 225 may hand back some of Thursday's sharp gains on Friday amid weak global cues. The index skyrocketed 3,191.38 points or 4.61 percent to finish at 72,366.34, snapping a two-day slide that had tumbled almost 3,200 points or 4.2 percent. Gains were led by financial shares, automobile producers and technology stocks, with Softbank Group surging 7.90 percent and Panasonic Holdings soaring 3.50 percent. The lead from Wall Street is soft as the major averages ended mixed, with the Dow adding 71.72 points or 0.14 percent while the NASDAQ slumped 118.03 points or 0.46 percent. Investors digested data showing the core PCE price index moved further above the Federal Reserve's target, new orders dropped more than expected, and GDP slowed in the first quarter. Crude oil prices jumped on supply disruption threats after a projectile hit a cargo ship near Oman across the Strait of Hormuz, with West Texas Intermediate crude for August delivery up 1.49 dollars or 2.12 percent at 71.83 dollars per barrel.
Panasonic Holdings CorporationPanasonic Holdings soared 3.50% as part of a broad rally led by financials, autos, and tech stocks, but no company-specific demand driver is cited.
SoftBank Group Corp.SoftBank Group surged 7.90% amid a broad rally in technology stocks, but no company-specific catalyst is mentioned.