Nikkei Weakens, Industrial and Communications Sectors Weigh
Japanese stock markets closed lower on Tuesday (March 17th), with pressure coming from the paper & pulp, transportation, and communications sectors. The main Nikkei 225 index fell 0.22% at the close of trading in Tokyo.
Despite the index's weakness, several stocks recorded significant gains. Shipping companies such as Kawasaki Kisen Kaisha surged 6.33%, followed by Daiichi Sankyo, which rose 5.93%, and Nippon Yusen, which rose 5.67% and even reached an all-time high.
Conversely, pressure came from industrial and technology stocks. Furukawa Electric fell 6.68%, Sumitomo Electric Industries fell 6.16%, and Lasertec fell 5.16%.
Overall, the number of rising stocks still outnumbered falling ones on the Tokyo Stock Exchange, reflecting a mixed market amid pressure from the major indices.
On the other hand, market volatility actually decreased, with the Nikkei Volatility Index falling 7.21%, indicating an easing of investor short-term concerns.
In the commodity market, oil prices strengthened significantly—Brent crude oil rose above US$103 per barrel, while gold also strengthened above US$5,000 per troy ounce.
In the foreign exchange market, the USD/JPY pair rose to 159.36, reflecting the yen's weakening, while the US dollar index strengthened slightly. (alg)
Source: Newsmaker.id
