Japan Stocks Decline Led by Paper & Pulp and Pharmaceutical Sectors; Tokyo Gas Co. Hits 5-Year High

Japan Stocks Market Retreat as Nikkei 225 Downturns by 1.31%

Key Points:

  • Japan stocks closed lower, influenced by losses in the Paper & Pulp, Pharmaceutical, and Retail sectors. The Nikkei 225 index declined by 0.49%.
  • Tokyo Gas Co., Ltd. (TYO:9531), Japan Steel Works Ltd. (TYO:5631), and Teijin Ltd. (TYO:3401) were among the best performers.
  • IHI Corp. (TYO:7013), Chugai Pharmaceutical Co., Ltd. (TYO:4519), and CyberAgent Inc. (TYO:4751) were the worst performers on the Tokyo Stock Exchange.
  • Tokyo Gas Co., Ltd. reached 5-year highs during the session, while Japan Steel Works Ltd. hit 52-week highs. Nikkei Volatility increased by 0.35.

Japan stocks closed lower on Wednesday, driven by losses in the Paper & pulp, Pharmaceutical Industry, and Retail sectors. At the close in Tokyo, the Nikkei 225 index declined 0.48% or 191.32 to 39,581.81.

The best performers of the session on the Nikkei 225 included Tokyo Gas Co., Ltd. (TYO:9531), which rose by 5.12% or 182.00 points to trade at 3,739.00 at the close. Similarly, Japan Steel Works Ltd. (TYO:5631) added 4.03% or 145.00 points to end at 3,746.00, and Teijin Ltd. (TYO:3401) was up 3.81% or 55.00 points to 1,500.00 in late trade.

Conversely, the session’s worst performers included IHI Corp. (TYO:7013), which fell by 5.44% or 216.00 points to trade at 3,758.00 at the close. Additionally, Chugai Pharmaceutical Co., Ltd. (TYO:4519) declined by 3.00% or 162.00 points to end at 5,236.00, and CyberAgent Inc. (TYO:4751) was down by 2.75% or 30.00 points to 1,062.00.

Rising stocks slightly outnumbered declining ones on the Tokyo Stock Exchange by 1904 to 1697, with 270 ending unchanged. Notably, shares in Tokyo Gas Co., Ltd. (TYO:9531) rose to 5-year highs during the session. Similarly, shares in Japan Steel Works Ltd. (TYO:5631) also reached 52-week highs. The Nikkei Volatility measures the implied volatility of Nikkei 225 options, increased by 0.35 to 21.47.

In commodities trading, crude oil for May delivery saw a modest increase of 0.33% or 0.28 to $85.51 a barrel. Brent oil for delivery in June rose by 0.31% or 0.28 to hit $89.70 a barrel, while the June Gold Futures contract rose by 0.59% or 13.95 to trade at $2,376.35 a troy ounce.

Currency markets saw slight movements, with USD/JPY up by 0.02% to 151.80, while EUR/JPY fell by 0.05% to 164.70. The US Dollar Index Futures remained unchanged at 103.93.

TechGolly editorial team led by Al Mahmud Al Mamun. He worked as an Editor-in-Chief at a world-leading professional research Magazine. Rasel Hossain and Enamul Kabir are supporting as Managing Editor. Our team is intercorporate with technologists, researchers, and technology writers. We have substantial knowledge and background in Information Technology (IT), Artificial Intelligence (AI), and Embedded Technology.

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