Stock Market

“Nikkei 225 Closes 0.71% Lower as Japan Stocks Dip”

Following the conclusion of Wednesday’s trading session, Japanese stocks took a hit, largely due to losses in the Steel, Banking, and Precision Instruments sectors. Specifically, the Nikkei 225 index fell 0.71% at the close in Tokyo.

Despite this, some stocks on the Nikkei 225 still managed to perform well. Shimizu Corp. (TYO:1803) was the top performer, rising by 8.55% or 65.00 points to trade at 825.00 by the close. Meanwhile, Obayashi Corp. (TYO:1802) gained 5.24% or 55.00 points, finishing at 1,104.00, and Taisei Corp. (TYO:1801) went up by 3.69% or 160.00 points, ending at 4,500.00 in late trade.

However, not all stocks fared well during Wednesday’s trading. Nippon Kayaku Co., Ltd. (TYO:4272) was the worst performer, falling 3.31% or 41.00 points to trade at 1,198.00 at the close. Concordia Financial Group Ltd (TYO:7186) also saw a decline of 2.71% or 14.00 points, ending at 502.00, while Shinsei Bank, Ltd. (TYO:8303) was down by 2.70% or 67.00 points, closing at 2,411.00.

The Tokyo Stock Exchange saw 2797 falling stocks, 820 advancing stocks, and 220 unchanged stocks by the end of the trading session.

Despite the overall market downturn, Shimizu Corp. (TYO:1803) and Obayashi Corp. (TYO:1802) managed to reach 52-week highs, up 8.55% or 65.00 to 825.00 and 5.24% or 55.00 to 1,104.00 respectively.

Furthermore, the Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up by 1.37% to 16.32.

In commodity trading, crude oil for June delivery rose by 0.40% or 0.31 to $77.38 a barrel. Meanwhile, Brent oil for delivery in July increased by 0.29% or 0.23 to hit $80.83 a barrel, and the June Gold Futures contract saw a rise of 0.10% or 2.00, trading at $2,006.50 a troy ounce.

As for currency exchange rates, USD/JPY was down 0.12% to 133.54, while EUR/JPY rose 0.29% to 147.14. The US Dollar Index Futures was also down 0.30% at 101.29.

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