On Friday, Japan’s stock market exhibited positive momentum, witnessing a notable uptick as the Nikkei 225 index surged by 1.27% by the end of the trading session. This upward trajectory was primarily buoyed by robust performances across several sectors, including Paper & Pulp, Manufacturing, and Transportation Equipment, which collectively contributed to the market’s gains.
Among the standout performers on the Nikkei 225 index were companies like Sumitomo Dainippon Pharma Co Ltd (TYO:4506), which saw a remarkable increase of 6.64% or 19.00 points, closing at 305.00 by the end of the session. Tokyo Electric Power Co., Inc. (TYO:9501) also delivered strong gains, advancing by 6.11% or 54.10 points to settle at 939.60. Similarly, IHI Corp. (TYO:7013) experienced a notable uptick of 5.72% or 219.00 points, concluding the trading day at 4,048.00.
Conversely, there were notable decliners in the market as well. Tokyo Electron Ltd. (TYO:8035) witnessed a decline of 2.52% or 870.00 points, closing at 33,630.00. Omron Corp (TYO:6645) also experienced a dip, falling by 1.83% or 96.00 points to end at 5,138.00, while Bandai Namco Holdings Inc (TYO:7832) dropped by 1.65% or 48.00 points, settling at 2,862.00.
Overall market sentiment remained positive, with rising stocks significantly outnumbering declining ones. Out of a total of 4873 stocks traded, 3143 stocks registered gains, while only 554 ended the session with losses. Additionally, 176 stocks remained unchanged, reflecting a broadly positive trend in market sentiment.
The Nikkei Volatility index, which measures the implied volatility of Nikkei 225 options, increased by 4.88% to reach 17.62, indicating some degree of volatility in the market.
In the commodities market, crude oil prices experienced minor fluctuations, with the July delivery of crude oil down by 0.17% or 0.13 to $77.78 per barrel. Brent oil for delivery in August also saw a slight decrease of 0.04% or 0.03, reaching $81.85 per barrel. Additionally, the August Gold Futures contract saw a decrease of 0.09% or 2.20, trading at $2,364.30 per troy ounce.
Currency markets also witnessed some movement, with the USD/JPY pair rising by 0.08% to 156.93, while the EUR/JPY pair fell by 0.05% to 169.78. The US Dollar Index Futures rose by 0.14% to 104.80, indicating some strength in the US dollar against a basket of major currencies. Overall, the day’s trading activity reflected positive momentum in the Japanese stock market, buoyed by gains across various sectors and positive market sentiment.