Nikkei closes higher as investors focus on US jobs report

Economy and stock exchange

The Nikkei index closed higher Friday as reports that Washington was considering deferring customs duties on Mexican imports were dampening broader concerns about weak global trade.

The benchmark Nikkei <.N225> was up 0.5% at 20,884.71, and in a week the index rose 1.4%.

Investors' confidence recovered slightly after Mexican and US officials held talks for a second day on trade and immigration on Thursday, amid reports that President Donald Trump may delay a customs duty due to come into effect on Monday.

But trading was meager as most investors refrained from forming positions ahead of the US jobs report, which will only slightly contribute to reducing market expectations that the Federal Reserve will cut interest rates this year.

Trading in the main market hit 1.6 trillion yen, the lowest in nearly two weeks.

Investors were buying on economy-related stocks, such as chip-related stocks, with Advantest Corp gaining 5.1 percent, Tokyo Electron up 2.8 percent, and other export firms, with TDK up 2.3 percent and Fanuc Corp. One percent.

Hitachi High Technologies jumped nearly 15 percent to the daily maximum of 5,450 yen after the Nikkei economic daily reported that parent company Hitachi is considering turning Hitachi High Technologies into a 100 percent subsidiary.

Hitachi said it was considering various options to increase the company's value, but has not made a decision.

The broader Topix index <.TOPX> was up 0.5 percent at 1,532.39 points.

. (tagsToTranslate) Nikkei (t) TSE (t) Washington t (t) Mexico