Nikkei Strengthens, Chip Stocks Rise
The Japanese stock market closed higher in trading Wednesday (15/7), driven by increases in the real estate, banking and textile sectors. The Nikkei 225 index rose 1.49% at the close of trading in Tokyo, indicating positive sentiment was returning to the Japanese market.
Lasertec shares were one of the main supports after soaring 10.18% to 49,690. Ibiden also rose 7.56% to 19,340, while Fujikura rose 7.19% to 5,145. The rise in these shares helped strengthen the index throughout the session.
Even though the market closed green, several stocks continued to experience pressure. Nichirei fell 8.17% to 1,940, BayCurrent Consulting fell 6.79%, and Fujitsu fell 4.74%. However, overall, the number of shares that rose was still far greater than the shares that fell on the Tokyo Exchange.
In terms of volatility, Nikkei Volatility fell 4.94% to 35.39, indicating that the pressure of uncertainty is starting to subside. In commodity markets, crude oil also strengthened, with WTI rising to US$80.24 per barrel and Brent rising to US$85.91 per barrel. Meanwhile, the gold futures contract fell to around US$4,038 per troy ounce.
The impact on the market, the strengthening of the Nikkei shows that investors are starting to take risks again, especially in technology stocks and cyclical sectors. However, the market still needs to pay close attention to movements in the yen, oil prices and the direction of the Fed's policy, because all three can still influence Japanese stock sentiment in the short term. (asd)
Source: Newsmaker.id
