Japanese Stock Exchange Rises, Nikkei Soars Supported by Property and Banking Shares
Japanese stock markets closed higher on Friday (June 12th), driven by gains in the property, banking, and textile sectors. The Nikkei 225 index rose sharply by 2.87% at the close of trading in Tokyo.
The largest gainer came from Mitsui Mining and Smelting Co., which surged 17.60% to 43,900. Disco Corp. also rose strongly, rising 14.09% to 79,900, while Sumitomo Metal Mining rallied 11.67% to 8,638. The gains in these stocks were the main drivers of today's Nikkei rally.
Despite the strengthening of the major indices, several stocks remained in the red. Taiyo Yuden fell 5.44% to 15,725, Shift Inc. weakened 4.92% to 645.30, and Murata Manufacturing fell 4.58% to 8,556. However, overall, the number of rising stocks still outnumbered falling ones on the Tokyo Stock Exchange.
In the commodity market, oil prices weakened. WTI crude fell 1.92% to US$86.03 per barrel, while Brent fell 2.06% to US$88.52 per barrel. Conversely, gold futures rose 2.22% to US$4,205.40 per troy ounce, indicating that investor appetite for safe-haven assets remains strong.
In the foreign exchange market, USD/JPY rose 0.26% to 160.32, while EUR/JPY strengthened 0.22% to 185.53. The strengthening of the yen cross and the rise in the Nikkei indicate that the Japanese market is still receiving positive support, although volatility has also increased, with Nikkei Volatility rising to a one-month high. (asd)
Source: Newsmaker.id
