Nikkei Rises 0.62%, Supported by Property and Banking Stocks
Japanese stock markets closed higher in Friday's trading (August 14), with the Nikkei 225 index rising approximately 0.62%. The gains were primarily driven by stocks in the property, banking, and textile sectors, with advancing stocks significantly outnumbering decliners.
Nexon was the top performer, surging 19.85% to 3,022 yen. Shift Inc. rose 7.57%, while Nintendo climbed 6.91% to 8,900 yen, providing further support to Japan's benchmark index.
Conversely, several stocks faced significant downward pressure. Trend Micro plunged 14.6%, Lasertec fell 4.12%, and Isetan Mitsukoshi declined 3.98%. Overall, 2,440 stocks on the Tokyo exchange advanced, compared to 1,099 that declined.
Market volatility eased slightly, with the Nikkei Volatility Index falling 1.28% to 31.65. This indicates an improvement in investor sentiment, even as the market continues to monitor developments regarding Japanese interest rates and yen movements.
In the foreign exchange market, the yen strengthened slightly, with the USD/JPY pair falling to around 159.25. Meanwhile, oil prices rose again; WTI traded around US$82.23 per barrel, and Brent approached US$87.98. Gold futures, however, weakened to around US$4,390.84 per troy ounce.
Newsmaker Analysis: The Nikkei's rise demonstrates that buying interest in Japanese stocks remains intact heading into the weekend. However, the yen's renewed strength and growing speculation regarding a Bank of Japan interest rate hike could act as future limiting factors. As long as the banking sector and large-cap stocks remain robust, the Nikkei has the potential to maintain its positive momentum. (asd)
Source: Newsmaker.id
