TOKYO, Oct 15 Reuters - Japanese shares rose on Friday and were set to finish the week in higher than 2% after Wall Street's overnight gains helped boost technology heavyweights as the earnings season is starting to kick off.
However, Uniqlo owner Fast Retailing was the biggest drag on the Nikkei, falling 0.5%, after the company posted a weaker than expected profit forecast.
Nikkei share average was down at 28,851 by 1.05% to 28,651. 70 GMT by 0154 GMT and the broader Topix gained 1.17% at 2,010. Both the Nikkei and Topix are set to post first weekly gains after three straight weeks of losses, rising 2.9% and 2.48%, respectively.
Gains in high-tech shares gave big energy to the market today. They rose because of a robust corporate outlook of overseas firms, said Tachibana Securities' General Manager Shigetoshi Kamada.
Many Japanese companies are also expected to raise their forecasts for this year. That is going to be a tailwind for the market. Wall Street advanced with the S&P 500 posting its biggest daily percentage advance since early March, followed strong earnings of companies including Morgan Stanley and UnitedHealth.
In Japan, chip making equipment maker Tokyo Electron contributed most to the Nikkei, with the index rising 1.8%. Robot maker Fanuc increased 4.18%.
Audio and game maker Sony Group and electronic-sensor maker Keyence lifted the Topix with 1.65% and 2.74% up, respectively.
Can Do, a household chain that sells household goods for 100 yen, was untraded on a glut of buy orders after retail group Aeon announced a takeover bid.
A decliner was department store operator Takashimaya down 3.57% after it cut its net profit forecast for this fiscal year.