Key Points:
- Nikkei 225 index surges by 0.86%, hitting a new 5-year high.
- Mitsui Engineering & Shipbuilding and Rakuten Inc. lead gains, reaching multi-year and 52-week highs, respectively.
- Market breadth favors rising stocks, with 2831 advancing and 875 declining.
- Commodities see mixed movements, with crude oil slightly up and gold futures unchanged.
In Friday’s trading session, Japan stocks rallied, buoyed by strong performances in the Shipbuilding, Insurance, and Chemical, Petroleum & Plastic sectors. At the close in Tokyo, the Nikkei 225 index surged by 0.86%, reaching a remarkable new 5-year high.
Among the standout performers on the Nikkei 225 were Mitsui Engineering & Shipbuilding (TYO:7003), which soared by an impressive 15.69%, or 150 points, closing at 1,106. Rakuten Inc. (TYO:4755) also saw significant gains of 6.50%, or 48 points, concluding at 779. T&D Holdings, Inc. (TYO:8795) also contributed to the positive sentiment, rising by 6.20%, or 146 points, to 2,511.
Conversely, Trend Micro Inc. (TYO:4704) experienced a decline of 17.20%, or 1,500 points, closing at 7,221, marking it as one of the session’s worst performers. SUMCO Corp. (TYO:3436) slipped by 5.25%, or 124 points, settling at 2,240, while Dainippon Screen Mfg. Co., Ltd. (TYO:7735) dipped by 3.20%, or 620 points, to reach 18,780.
Reflecting on market breadth, rising stocks significantly outnumbered declining ones on the Tokyo Stock Exchange, with 2831 stocks advancing, 875 declining, and 181 ending unchanged. Mitsui Engineering & Shipbuilding (TYO:7003) and Rakuten Inc (TYO:4755) hit multi-year and 52-week highs, respectively, underscoring investor optimism. The Nikkei Volatility Index, which measures the implied volatility of Nikkei 225 options, remained unchanged at 19.48%.
In commodities trading, crude oil for March delivery increased by 0.10% to $78.11 a barrel. Conversely, Brent oil for delivery in April fell marginally by 0.08%, reaching $82.79 a barrel. Meanwhile, the April Gold Futures contract experienced minimal movement, dropping by 0.00% to $2,014.80 a troy ounce.
Currency-wise, the USD/JPY pair rose by 0.20% to 150.21, while the EUR/JPY pair increased by 0.07% to 161.62. The US Dollar Index Futures also showed gains, up by 0.11% at 104.32.
