Nikkei Rallies, SUMCO and Ibiden Lead Gains
Japanese stocks closed higher on Friday, with the Nikkei 225 rising 2.53% to a new record high. The gains, led by the real estate, banking, and textile sectors, reflected a risk-on mood in the Tokyo equity market.
On the main Nikkei board, the biggest gainers came from SUMCO, which rose 19.30% to 3,994, followed by Ibiden, which gained 16.51% to 23,000, and Taiyo Yuden, which rose 13.87% to 14,815. Conversely, pressure came from Mitsubishi Motors, which fell 8.54%, while Fujikura and Fujitsu fell 4.90% and 4.13%, respectively.
Overall, there were more rising stocks than falling ones on the Tokyo Stock Exchange (1,980 advancing, 1,541 declining, and 251 unchanged). Several issuers also recorded record highs, including SUMCO, which reached a five-year high, and Ibiden and Taiyo Yuden, which set new records.
In terms of sentiment, Nikkei volatility fell 13.46% to 26.95, a one-month low, in line with the easing of prices in the short-term price range. In commodities, oil fell (July WTI -1.50% to $87.57 and August Brent -1.24% to $91.55), while the August gold contract rose 0.38% to $4,549.76, indicating a more measured shift in positioning between assets.
In the forex market, USD/JPY was relatively flat at 159.22, while the dollar index ended virtually unchanged at 98.96. In the following session, market participants are likely to continue the volatility movements, oil direction, and sector rotation that appear to dominate the Nikkei's gains. (asd)
Source: Newsmaker.id
