Nikkei Jumps 3.29%, Japanese Chip Stocks Lead Gains
Japanese stocks closed sharply higher on Tuesday (July 21st), driven by gains in the property, banking, and textile sectors. The Nikkei 225 index rose 3.29% at the close of trading in Tokyo.
The largest gainer came from Kioxia Holdings, which surged 17.18%, or 8,950 points, to 61,060. Ibiden shares also rose 11.03% to 17,415, while Socionext rose 9.11% to 2,472.50 at the close of trading.
Despite the market's gains, several stocks remained under pressure. Nintendo fell 4.13% to 6,993, Kikkoman weakened 2.49% to 1,625.50, and CyberAgent fell 2.36% to 1,448.50.
Overall, rising stocks far outnumbered falling stocks on the Tokyo Stock Exchange. A total of 2,746 stocks rose, 805 stocks fell, and 215 stocks remained unchanged. However, the Nikkei Volatility Index rose 14.22% to 36.86, indicating that investor vigilance regarding market movements remains quite high.
On the commodity side, WTI oil fell slightly to US$82.42 per barrel, while Brent weakened to US$88.82 per barrel. Gold futures rose 1.65% to US$4,082.17 per troy ounce. On the currency market, USD/JPY moved slightly to 162.54, while EUR/JPY rose to 185.71.
In terms of market impact, the Nikkei's surge indicates improving risk sentiment in the Japanese market, particularly in chip and technology stocks. However, the increased volatility suggests the rally is not yet completely safe. If the yen remains weak, Japanese exporter stocks could receive support, but investors should still monitor oil prices, gold, and the direction of the US dollar, as global factors still have the potential to trigger sharp movements. (asd)
Source: Newsmaker.id
