Japanese Stocks Surge, Led by Electrical/Machinery Sector; Mitsubishi Electric Corp Hits Record High

Japan Stocks Surge to 5-Year Highs, Led by Shipbuilding and Insurance Sectors

Key Points:

  • Japanese stocks surged, driven by gains in the Electrical/Machinery, Gas & Water, Chemical, and plastic sectors. The Nikkei 225 index surged by 1.24%.
  • Mitsubishi Electric Corp (TYO:6503), Tokuyama Corp. (TYO:4043), and Komatsu Ltd. (TYO:6301) were among the top performers.
  • M3 Inc. (TYO:2413), Nitto Denko Co (TYO:6988), and Advantest Corp. (TYO:6857) were among the worst performers.
  • Mitsubishi Electric Corp. and Komatsu Ltd. significantly increased, hitting a record high. M3 Inc. experienced a notable decline, reaching 5-year lows.

Japan’s stock market witnessed a significant rise on Tuesday, fueled by notable gains in the Electrical/Machinery, Gas & Water, and Chemical, Petroleum & Plastic sectors. Closing in Tokyo, the Nikkei 225 index surged by 1.24% or 470.90 to 38,405.66, indicating a strong upward trend in the market.

Among the standout performers on the Nikkei 225 were Mitsubishi Electric Corp (TYO:6503), which saw an impressive increase of 15.88% or 380.00 points, reaching 2,773.00 by the close. Additionally, Tokuyama Corp. (TYO:4043) rose by 11.40% or 334.00 points, settling at 3,260.00, while Komatsu Ltd. (TYO:6301) experienced a gain of 11.52% or 491.00 points, closing at 4,755.00 in late trade.

Conversely, M3 Inc. (TYO:2413) emerged as one of the worst performers, witnessing a decline of 9.91% or 186.00 points, concluding at 1,692.00. Following suit, Nitto Denko Co (TYO:6988) fell by 8.31% or 1,185.00 points, reaching 13,070.00, while Advantest Corp. (TYO:6857) experienced a decrease of 7.29% or 393.00 points, closing at 4,996.00.

Rising stocks dominated the Tokyo Stock Exchange, outnumbering declining ones with 2776 to 910, while 192 remained unchanged. Mitsubishi Electric Corp (TYO:6503) reached all-time highs, while M3 Inc (TYO:2413) hit 5-year lows. Tokuyama Corp. (TYO:4043) also reached 5-year highs, and Komatsu Ltd. (TYO:6301) surged to all-time highs. The Nikkei Volatility, measuring the implied volatility of Nikkei 225 options, decreased by 1.68% or 0.35 to 20.47.

In commodities trading, Crude oil for June delivery experienced a slight dip of 0.23% or 0.19, trading at $82.44 a barrel. Brent oil for delivery in July also fell by 0.23% or 0.20, reaching $87.00 a barrel, while the June Gold Futures contract declined by 1.14% or 26.80, trading at $2,330.90 a troy ounce.

Currency-wise, USD/JPY rose by 0.33% to 156.85, while EUR/JPY increased marginally by 0.02% to 167.63. The US Dollar Index Futures rose by 0.34% to 105.81.

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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