Nikkei Rises, Energy and Banks Lead Tokyo Stock Exchange Gains
Japanese stocks closed higher on Thursday (March 5), with the Nikkei 225 up 1.72%, driven by gains in the real estate, banking, and textile sectors. The gains were broad-based, reflected in the dominance of rising stocks on the Tokyo Stock Exchange: 3,438 stocks advanced, 300 declined, and 85 were unchanged.
Among the index's drivers, Inpex surged 7.46% to 4,161, hitting an all-time high. Nippon Electric Glass rallied 7.05% to 6,740, while Resona Holdings rose 6.52% to 1,788.5, highlighting the role of energy and financial stocks in fueling the rally.
However, not all stocks moved in the same direction. Nitori fell 3.59% to 2,819, Kyowa Kirin weakened 3.00% to 2,164, and Nexon fell 2.90% to 2,983, indicating selective rotation amidst the strengthening of major indices.
Behind the rise in stock prices, measures of market uncertainty actually increased. The Nikkei Volatility Index surged 76.95% to 53.05, its highest level in six months, indicating market participants were still placing a premium on risk despite the index closing higher.
In global markets, commodities provided a supportive backdrop for energy: WTI for April rose 2.57% to US$76.58 per barrel and Brent for May rose 0.79% to US$83.16. Gold for April rose 0.83% to US$5,177.26 per troy ounce. Meanwhile, USD/JPY edged down 0.03% to 157.02, with the dollar index futures rising 0.25% to 98.97. (alg)
Source: Newsmaker.id
