Nikkei 225 Rises 1.46%; Property and Banking Sectors Lead Gains
Japanese stock markets closed higher in Thursday's trading (August 20), with the Nikkei 225 rising 1.46%. The index's gains were driven by rallies in the property, banking, and textile sectors, alongside improving market sentiment fueled by the positive performance of several large-cap stocks.
Sumitomo Metal Mining was a key mover, surging 10.76% to 10,630 yen. Gains were also seen in Sumitomo Dainippon Pharma, which rose 8.48% to 1,465 yen, and Kansai Electric Power, which climbed 8.37% to 2,557.50 yen.
Conversely, some stocks faced downward pressure. Aozora Bank fell 3.11% to 3,238 yen, Ibiden weakened 2.87% to 19,150 yen, and Nippon Steel retreated 2.20% to 663 yen. Nevertheless, the number of advancing stocks far outnumbered decliners on the Tokyo exchange.
A total of 2,907 stocks posted gains compared to 612 decliners, while 226 stocks remained unchanged. This indicates broad-based market strength, although Nikkei volatility rose 6.33% to 32.44, signaling that investors remain cautious regarding potential market fluctuations.
Commodity sentiment also leaned positive. WTI crude oil futures for October delivery rose 0.64% to approximately US$84.93 per barrel, while Brent crude for October gained 0.70% to around US$92.26 per barrel. Gold futures for December delivery edged up 0.12% to approximately US$4,550.86 per troy ounce. In the foreign exchange market, USD/JPY rose 0.11% to 158.36, while EUR/JPY strengthened 0.21% to 185.09. Meanwhile, the US dollar index futures edged down 0.06% to 98.67. The combination of a weaker dollar and gains in domestic stocks helped sustain positive sentiment in the Japanese market, although investors remain attentive to global volatility and monetary policy developments.
Source: Newsmaker.id
