Japan's Nikkei average ended flat on Friday, paring earlier losses as investors picked up shares of trading companies such as Mitsubishi Corp and earth-moving equipment maker Komatsu Ltd Consumer electronics maker Pioneer Corp shot up, helping to offset sharp falls in index heavyweights Trend Micro Inc and Daikin Industries Ltd, which were hit by outlook concerns, Reuters reported. The market opened lower, following overnight losses on Wall Street. But it quickly made up ground, and the Nikkei briefly rose into positive territory late in the afternoon session. "There was bargain hunting by pension funds," said Terushige Shibata at Mizuho Investors Securities. Trading houses and shippers such as Kawasaki Kisen Kaisha Ltd were among the days big gainers. "Shippers and machinery firms like Komatsu have been hit by selling by foreigners recently, and now they are seeing a rebound," said Katsuhiko Kodama, senior strategist at Toyo Securities. The benchmark Nikkei ended flat at 13,622.56. The index rose 4.7 percent for the week, its first weekly gain this year. The broader TOPIX index edged up 0.2 percent to 1,334.89. Mitsubishi rose 4.2 percent to 3,260 yen and Mitsui & Co gained 3.5 percent to 2,375 yen. Pioneer jumped 15.5 percent to 1,205 yen and Komatsu climbed 3.8 percent to 2,625 yen. Kawasaki Kisen rose 5.7 percent to 1,150 yen. Trade was active, with some 2.3 billion shares changing hands, which matched last week's average closing volume. Advancers outnumbered decliners 892 to 726.
