Tokyo stocks mixed on tech gains, wait-and-see ahead BOJ outcome weighs

Tokyo stocks showed a mixed performance on Friday morning, buoyed by heavyweight technology shares, but overall market sentiment remained weak as investors awaited the Bank of Japan's policy meeting outcome. The Nikkei Stock Average, which tracks the performance of 225 large-cap Japanese companies, climbed 525.86 points, or 0.82%, to close at 64,662.11.

In contrast, the broader Topix index, representing a wider range of Japanese stocks, fell 17.81 points, or 0.44%, to 4,076.38. The U.S. dollar found itself trading near the lower 156 yen mark in Tokyo, a result of speculation surrounding potential further rate hikes by the U.S. Federal Reserve. At noon, the dollar was valued at 156.64-68 yen, just a touch higher than the 155.92-156.02 yen level seen in New York and 155.68-70 yen in Tokyo at 5 p.m. the previous day.

European currencies also saw slight fluctuations against the U.S. dollar, with the euro trading at $1.1479-1480 and 179.84-88 yen, up from $1.1470-1480 and 178.95-179.05 yen in New York earlier that evening. Dealers suggested that the market's cautious approach could persist until Kazuo Ueda, Governor of the Bank of Japan, delivers his press conference following the market's close.

Tech giants, such as Nvidia, saw a surge in buying activity following comments from CEO Jensen Huang, who spoke out against setting new restrictions on artificial intelligence development amid recent concerns voiced by top executives at U.S. AI firms advocating for a slower pace in AI advancement.