Japanese Stocks Reach Three-Month High As Nikkei 225 Rises 0.54%
In a day of gains for Japanese equities, the Nikkei 225 index rose 0.54% at the close of trading on Friday, hitting a new high in nearly three months. The surge was attributed to gains in the technology and industrial sectors, propelling shares higher across the board.
Mitsubishi Heavy Industries Ltd was one of the best performers of the session, rising 6.38% or 529.00 points to trade at 8,824.00 at the close. Dainippon Screen Mfg. Co., Ltd. and Resonac Holdings Corp also saw significant gains, rising 4.45% and 4.38% respectively in late trade.
However, not all stocks fared well on Friday, with Prince Holdings, Nippon Paper, and Daikin Industries among the weakest performing stocks on the Tokyo Stock Exchange, falling by 2.69%, 2.37%, and 2.35% respectively.
Overall, 2,195 stocks rose on the Tokyo Stock Exchange, exceeding the 1,421 stocks that closed lower, while 264 stocks remained unchanged.
In terms of options trading, the implied volatility of Nikkei 225 Index options fell 3.82% to 17.87, hitting a new low in nearly a month. The price of the January options contract on WTI crude oil futures also saw a modest increase, while the price of the London Brent crude oil futures contract for January delivery fell.
The USD/JPY and EUR/JPY currency pairs both saw a slight decline, falling 0.19% and 0.17% respectively, while the U.S. dollar index futures fell 0.03% to 103.63.
Overall, the positive performance of Japanese stocks on Friday reflects a positive sentiment in the market, with investors being optimistic about the outlook for the country’s economy and financial markets.