Nikkei 225 Hits New Record, Thanks to Support from the Property and Banking Sectors
The Japanese stock market closed trading on Wednesday (June 17) with optimism, led by gains in the property, banking, and textile sectors. The Nikkei 225 index surged 0.83% to reach an all-time high, reflecting positive investor sentiment toward the domestic economy. This surge was driven by the strong performance of several leading stocks, including Lasertec Corp., which surged 13.16%.
Lasertec Corp. (TYO:6920) was the star of the session, rising 6,130 points, or 13.16%, to 52,700 yen, breaking a new record high. Kawasaki Heavy Industries and Japan Steel Works rose 7.75% and 7.07%, respectively, reflecting strong investor interest in the heavy industry and high-tech manufacturing sectors.
On the other hand, several stocks experienced pressure. T&D Holdings (TYO:8795) fell 3.18%, SoftBank Group fell 3.13%, and Olympus fell 3.01%. Despite the sell-off in certain stocks, the number of rising stocks remained dominant, with 2,347 stocks compared to 1,194 decliners, indicating a healthy market.
Commodity movements also influenced sentiment. Crude oil prices for July delivery fell 1.03% to $75.27 per barrel, while Brent for August delivery weakened 0.82% to $78.31 per barrel. Gold for August delivery fell slightly by 0.08% to $4,351.05 per troy ounce. In the foreign exchange market, USD/JPY fell 0.11% to 160.25 and EUR/JPY weakened 0.09% to 186.02, while the US dollar index edged up 0.05% to 99.32.
Analysts believe that Japanese stock movements reflect a balance between growth in the technology and industrial sectors, as well as the market's response to global commodity prices. Nikkei volatility decreased 10.61% to 31.09, indicating slightly easing market risks and increasing investor confidence ahead of the next important economic data release. (asd)
Source: Newsmaker.id
