Nikkei Rises 0.44% Led by Real Estate and Banking
Japanese stocks closed higher on Tuesday (May 12), with the Nikkei 225 rising 0.44%, led by gains in the real estate, banking, and textile sectors. However, market breadth remained weak, as declining stocks still outnumbered rising ones on the Tokyo Stock Exchange.
The index's gains were supported by a surge in several large issuers, led by Furukawa Electric, which surged 16.12% and reached an all-time high. Fujikura rose 11.59% and also set a new record, while Shimizu rallied 10.67% in late trading.
Meanwhile, pressure was evident on several stocks, with LY Corp falling 8.62%, Comsys Holdings weakening 8.50%, and Yamaha dropping 7.63%. However, the Nikkei 225 options implied volatility indicator (Nikkei Volatility) fell 7.06% to 31.75, indicating a easing of short-term risk premiums in the derivatives market.
In global markets, oil prices rose, with WTI for June rising 2.57% to US$100.59 per barrel and Brent for July rising 2.16% to US$106.46, while June gold futures fell 0.49% to US$4,705.54 per troy ounce. In FX, USD/JPY rose 0.26% to 157.52, and dollar index futures rose 0.28% to 98.10, adding to the context of risk-repricing as investors weigh the impact of energy and the dollar on risk assets. (asd)
Source: Newsmaker.id
