Japan stocks higher at close of trade; Nikkei 225 up 0.09%
Tokyo, Japan – The Japanese stock market closed higher on Monday, as gains in the technology, consumer goods, and telecommunications sectors lifted shares. The Nikkei 225 index rose by 0.09%, reaching a new five-year high.
Fujikura Ltd. was the top performer of the session, with its stock price surging by 23.85% or 300.00 points to close at 1,558.00. Nisshinbo Holdings Inc. also had a strong showing, adding 9.24% or 115.00 points to finish at 1,359.50. Meanwhile, SoftBank Group Corp. saw a rise of 8.72% or 641.00 points, closing at 7,991.00.
On the other hand, Nissan Motor Co., Ltd. experienced a decline of 11.56% or 72.30 points, trading at 553.10 at the close. Nikon Corp. also faced a drop of 7.24% or 111.50 points, ending the day at 1,429.50. Teijin Ltd. suffered a decrease of 7.22% or 97.50 points, reaching 1,253.00.
Although falling stocks outnumbered advancing ones on the Tokyo Stock Exchange, the overall market sentiment remained largely optimistic.
Fujikura Ltd. recorded all-time highs, soaring by 23.85% or 300.00 to close at 1,558.00. Nisshinbo Holdings Inc. also reached a five-year high, with a gain of 9.24% or 115.00 to end at 1,359.50. SoftBank Group Corp. achieved a 52-week high, rising by 8.72% or 641.00 to 7,991.00. Teijin Ltd., on the other hand, hit a 52-week low, losing 7.22% or 97.50 to settle at 1,253.00.
The Nikkei Volatility Index, which measures the implied volatility of Nikkei 225 options, decreased by 2.78% to reach 19.25.
In other market news, crude oil for March delivery experienced a slight decline of 0.36% or 0.28 to $76.56 per barrel. Brent oil for delivery in April fell by 0.34% or 0.28, reaching $81.91 per barrel. Additionally, the April Gold Futures contract saw a small decrease of 0.03% or 0.60, trading at $2,038.10 per troy ounce.
The USD/JPY currency pair was down 0.07% at 149.19, while the EUR/JPY pair rose by 0.03% to 161.01.
The US Dollar Index Futures dropped by 0.08% to 103.91, suggesting a slight weakness in the US dollar.
Analyst comment
Positive news. The Japanese stock market closed higher with the Nikkei 225 up 0.09%, reaching a new five-year high. Technology, consumer goods, and telecommunications sectors saw gains. Market sentiment remains largely optimistic despite more falling stocks than advancing ones. Analysts anticipate the market to continue its upward trend in the short term.
