Nikkei Falls Sharply at Close of Trading
Japanese stocks closed sharply lower on Tuesday, with the Nikkei 225 index down 3.46% at the close of the Tokyo session. Market pressure came primarily from the paper and pulp, transportation, and communications sectors, which dragged down stock movements across the board. This decline suggests investors remain cautious about riskier assets amidst global market pressures.
Among stocks that managed to strengthen, Fujikura Ltd. was a key supporter, rising 5.29% to 6,487. Meiji Holdings also gained 3.52% to 3,704, while Nichirei Corp. rose 3.11% to 2,103.50. However, the gains of these stocks were not strong enough to withstand the significant pressure on the overall market.
The biggest pressure came from Furukawa Electric, which plunged 15.52% to 49,000. Kioxia Holdings also fell sharply, falling 15.10% to 92,290, followed by Mitsui Mining and Smelting, which fell 12.62% to 46,250. On the Tokyo Stock Exchange, the number of declining stocks reached 2,572, far outnumbering the 978 advancing stocks, while 216 stocks ended unchanged.
Pressure in the Japanese market also arose as commodity prices weakened. Crude oil for August delivery fell 1.41% to US$72.82 per barrel, while Brent fell 1.41% to US$76.43 per barrel. August gold futures also fell 1.57% to US$4,136.82 per troy ounce. In the foreign exchange market, USD/JPY fell slightly to 161.46, while EUR/JPY weakened to 184.56, indicating that the market remains overshadowed by concerns about global interest rates and risk asset volatility. (asd)
Source: Newsmaker.id
