Nikkei Rises, Japanese Technology Stocks Support
Japanese stocks closed higher on Thursday (July 9th), supported by gains in the property, banking, and textile sectors. The Nikkei 225 index rose 1.55% at the close of trading in Tokyo, indicating improved investor sentiment after being overshadowed by global market weakness.
The biggest gainer came from Kioxia Holdings, which surged 8.33% to 77,860. Other technology stocks also supported the index, with Advantest rising 5.86% to 29,160 and Tokyo Electron gaining 5.51% to 71,060. The gains in these stocks provided a strong boost to the Nikkei amidst still-concentrated market movements.
However, not all stocks moved positively. Mitsubishi Materials was one of the main drags, falling 6.91% to 3,960. Japan Steel Works fell 3.79% to 7,940, while Yokohama Rubber fell 3.49% to 7,505. On the Tokyo Stock Exchange, declining stocks still outnumbered advancing ones, at 1,823 compared to 1,628.
In the commodity and foreign exchange markets, oil prices weakened, with WTI falling to US$73.24 per barrel and Brent falling to US$77.71 per barrel. Conversely, August gold futures rose 0.83% to US$4,116.15 per troy ounce. Meanwhile, USD/JPY fell 0.15% to 162.33, while the US dollar index weakened 0.11% to 100.65. (asd)
Source: Newsmaker.id
