Nikkei hugs gains but investors head for sidelines

Japan's Nikkei stock average on Friday held on to gains after hitting a 9-1/2-month high the day before, but most investors were moving to the sidelines ahead of a long weekend in the United States.

Although many market players took profits after a four-dayrally, downward pressure was limited thanks to buying on dips after bullish corporate forecasts helped Wall Street shrug off concerns about tensions in the Middle East and mixed data the day before.