Nikkei posts best weekly performance in 3 months

Japan’s Nikkei average posted its best weekly performance in three months, rising 1% on Friday, supported by growing hopes that US President Donald Trump will be able to reach trade agreements with several major US trading partners, including Japan.

The Nikkei touched a two-week high of 34,758.97 before closing up 1.03% at 34,730.28, despite thin trading due to the Easter holiday in most global markets. The broader Topix index also rose 1.14%. On the Tokyo Stock Exchange, the shipping sector was the second-best performing sector, rising 2.92 percent, while the pharmaceutical sector led the gainers with a 4.68 percent gain, buoyed by a 17.54 percent jump in Chugai Pharmaceutical shares after clinical trials showed positive results for an anti-obesity drug the company developed in collaboration with US pharmaceutical company Eli Lilly.