Japan Stocks Rise to New 5-Year High
Tokyo, Japan – In a positive end to the trading week, Japan stocks closed higher on Friday with the Nikkei 225 reaching a new 5-year high. This was driven by gains in various sectors, resulting in an overall increase of 0.92%.
The session's best performers on the Nikkei 225 included Mitsui Engineering & Shipbuilding, which saw a remarkable rise of 15.69%, trading at 1,106.00 at the close. Rakuten Inc also had a strong showing, adding 6.50% to end at 778.70. T&D Holdings, Inc. also performed well, experiencing a 6.20% increase in late trade.
On the other hand, there were some poor performers during the session. Trend Micro Inc. saw a decline of 17.20%, trading at 7,221.00 at the close. SUMCO Corp. declined by 5.25%, ending at 2,239.50. Dainippon Screen Mfg. Co., Ltd. experienced a 3.20% decrease, reaching 18,780.00.
Overall, the Tokyo Stock Exchange saw more rising stocks than declining ones, with a ratio of 2831 to 875. Additionally, 181 stocks remained unchanged.
Mitsui Engineering & Shipbuilding had a particularly strong day, with stock prices reaching 3-year highs. Shares gained 15.69% to trade at 1,106.00. Rakuten Inc also reached 52-week highs, showing an increase of 6.50% to 778.70.
In terms of commodities, the Nikkei Volatility Index remained unchanged at 19.48. Crude oil for March delivery experienced a slight increase of 0.10%, reaching $78.11 a barrel. However, Brent oil for delivery in April fell slightly by 0.08%, hitting $82.79 a barrel. The April Gold Futures contract experienced no change, trading at $2,014.80 a troy ounce.
In currency exchange, the USD/JPY pair was up by 0.20% at 150.21, while the EUR/JPY pair saw a modest increase of 0.07% to 161.62.
The US Dollar Index Futures also fared well, showing an increase of 0.11% at 104.32.
Overall, Japan stocks had a strong end to the week, with the Nikkei 225 reaching new highs. Gains in various sectors contributed to the positive performance, while some stocks saw declines.
Analyst comment
This news is positive for the market. The Nikkei 225 reached a 5-year high, with gains in various sectors and many stocks performing well. The Nikkei Volatility Index was unchanged, and there were positive movements in the USD/JPY and EUR/JPY forex pairs. The market is likely to continue its upward trend.
