Nikkei closes at two-week high

The Nikkei Index rose to a two-week high at the close, boosted by a strong performance from index heavyweight Fast Retailing, despite investors remaining cautious as earnings season gets underway.

The Nikkei average rose 0.6% to 39,605.80, up 2.5% for the week. The broader Topix fell 0.2% to 2,706.2.

Shares of Fast Retailing rose 6.1%, the biggest percentage gainer after the owner of clothing brand Uniqlo said yesterday it had posted a record profit for a third straight year.

A rise in Fast Retailing, the heaviest weighting in the 225-stock index, helped the Nikkei maintain gains despite a decline in 160 stocks.

Despite the Philadelphia Semiconductor Index and all three Wall Street indexes falling overnight, Japanese chip-related stocks were higher, tracking Nvidia.