Nikkei Hits One-Month High, Bolstered by Tech Stocks
The Nikkei 225 index closed up approximately 0.7% in Monday's trading, reaching a one-month high. The Japanese stock market's rise was supported by gains in the real estate, banking, and textile sectors, with advancing stocks slightly outnumbering decliners.
Kioxia Holdings was among the top gainers, surging around 15%. Mitsui Mining and Smelting also rose more than 7%, while Fujikura climbed approximately 7.3%. These gains helped sustain the Nikkei's positive momentum through the close of trading.
Conversely, several major stocks faced significant downward pressure. Trend Micro fell more than 8%, NEC dropped about 7.4%, and Dentsu lost over 7%. However, the pressure from these stocks was insufficient to reverse the index's overall upward trajectory.
Market sentiment was also bolstered by the strengthening yen; the USD/JPY exchange rate fell to around 158.97, while Nikkei volatility subsided. In commodity markets, gold futures rose to approximately US$4,459 per troy ounce, while Brent crude traded around US$88.42 per barrel and WTI fell to the US$81.07 range.
Newsmaker Analysis: The Nikkei's rise indicates that interest in Japanese stocks remains intact, even as the yen strengthens and some technology stocks undergo corrections. As long as capital flows into the banking, property, and technology-oriented sectors remain robust, the index retains room to maintain its upward trend. However, an overly rapid appreciation of the yen could once again exert pressure on Japanese exporters. (asd)
Source: Newsmaker.id
