Nikkei Rebounds, Investors Rebound for Cheap Stocks
The Japanese stock market rebounded on Monday (June 29th) after weakening earlier in the session. The Nikkei 225 index rose 0.15% to close at 69,468, while the broader Topix index gained 0.47% to 3,982. This increase occurred after investors returned to the market to buy stocks that had previously been under pressure.
Market participants are still monitoring developments in the Middle East conflict, particularly after tensions between the United States and Iran escalated around the Strait of Hormuz. However, market sentiment improved slightly after both countries agreed to halt further attacks ahead of planned peace talks in Doha, Qatar, this week. This situation has eased geopolitical tensions somewhat, although investors remain concerned about risks.
Domestically, the market received a boost from Japanese retail sales data, which grew 5.3% in May. This increase marked the fastest growth since November 2023. This increase was largely supported by the government's stimulus package, which helped boost public spending, thus signaling positive growth for Japanese consumers.
Several large stocks contributed to the market's rally. Taiyo Yuden surged 10.9%, Tokyo Electron rose 2.4%, Sony Group rose 3.1%, Nintendo added 5.3%, and Disco Corp rose 1.3%. The gains in these stocks indicate that buying interest is returning, particularly in the technology sector and blue chip stocks, which had previously been under pressure. (asd)*
Source: Newsmaker.id
