Nikkei Rises 0.60%, SUMCO and Taiyo Yuden Lead Gains
Japanese stocks closed higher on Wednesday (July 1), driven by gains in the property, banking, and textile sectors. At the close of trading in Tokyo, the Nikkei 225 index rose 0.60%, reflecting the continued positive sentiment in the Japanese stock market.
The largest gainer came from SUMCO Corp., which surged 17.37%, or 700 points, to 4,729. Taiyo Yuden Co., Ltd. also rose 12.43%, or 2,505 points, to 22,655, while Dainippon Screen Mfg. Co., Ltd. gained 9.46%, or 1,685 points, to 19,490.
Despite the major indexes' gains, several large stocks continued to decline. Furukawa Electric Co., Ltd. fell 8.01% to 4,351, Sapporo Holdings Ltd. fell 7.78% to 1,872, and Kawasaki Heavy Industries, Ltd. fell 7.66% to 2,698.50.
On the Tokyo Stock Exchange, the number of declining stocks still outnumbered advancing ones, with 1,777 stocks declining compared to 1,727 stocks advancing. Meanwhile, 243 stocks closed unchanged. This indicates that the Nikkei's gains were largely driven by specific stocks that recorded significant surges.
SUMCO shares rose to a five-year high, while Taiyo Yuden and Dainippon Screen hit all-time highs. Meanwhile, the Nikkei Volatility index, which measures expected volatility of Nikkei 225 options, fell 11.67% to 38.30.
In other markets, US crude oil for August delivery edged up 0.09% to US$69.56 per barrel, while Brent for September delivery rose 0.16% to US$73.07 per barrel. August gold futures fell 1.32% to US$3,985.37 per troy ounce. In the currency market, USD/JPY rose 0.10% to 162.68, EUR/JPY fell 0.06% to 185.51, and US dollar index futures rose 0.12% to 101.07. (asd)
Source: Newsmaker.id
