Japanese stocks closed higher on Wednesday, with the Nikkei 225 reaching a new three-month high, driven by notable gains in the Paper & Pulp, Transportation Equipment, and Chemical, Petroleum & Plastic sectors.
At the close in Tokyo, the Nikkei 225 recorded a 1.15% increase, marking a positive trajectory in the market.
Among the top performers on the Nikkei 225 were Sumitomo Dainippon Pharma Co Ltd (TYO:4506), surging by 5.61% or 25.00 points to 471.00 at the close. Kawasaki Kisen Kaisha, Ltd. (TYO:9107) also demonstrated strength, adding 5.31% or 320.00 points, concluding at 6,350.00. In late trade, SoftBank Group Corp. (TYO:9984) showed resilience, climbing by 4.23% or 258.00 points to 6,357.00.
Conversely, J.Front Retailing Co., Ltd. (TYO:3086) and Nippon Paper Industries Co., Ltd. (TYO:3863) were among the session’s laggards, declining by 2.41% and 0.79%, respectively.
The Tokyo Stock Exchange witnessed a favorable trend, with rising stocks outnumbering declining ones by a substantial margin – 2911 to 795. Additionally, 190 stocks concluded the session unchanged.
The Nikkei Volatility, measuring the implied volatility of Nikkei 225 options, experienced a 1.73% uptick, reaching 17.10.
In commodity trading, crude oil for February delivery experienced a slight dip, down 0.12% to $75.48 a barrel. Meanwhile, Brent oil for delivery in March saw a marginal increase of 0.07%, reaching $80.91 a barrel. The February Gold Futures contract rose by 0.38% to $2,077.60 per troy ounce.
In currency markets, the USD/JPY pair rose by 0.20% to 142.67, while the EUR/JPY pair also registered a 0.20% increase, reaching 157.56.
The US Dollar Index Futures exhibited marginal movement, up by 0.01% at 101.11. The overall market sentiment remains positive, reflecting the upward trajectory in Japanese stocks and the Nikkei 225’s attainment of a three-month high.