Japanese stocks surged to new heights on Thursday, with the Nikkei 225 rising by 1.88% at the close of trading in Tokyo. This increase was driven by gains in the technology and consumer goods sectors, propelling shares higher.
Leading the charge were Japan’s Itochu Corporation Ltd, which saw a 4.50% increase, KDDI Corporation with a 4.21% rise, and Hitachi Corporation, which rose by 4.20%. On the other hand, some of the worst performing stocks included Yamato Holdings, which fell by 3.85%, and Rakuten AG, which declined by 2.44%.
Overall, the Tokyo Stock Exchange saw 2,064 stocks rise, surpassing the number of stocks that closed lower, which was at 1,611. Additionally, the implied volatility of Nikkei 225 options rose by 4.01% to 19.20.
In terms of commodities, the price of the February options contract on WTI crude oil futures saw a 0.76% increase, while the London Brent crude oil futures contract for March delivery rose by 0.78%. The February gold futures contract also saw a 0.54% increase.
As for currency exchange rates, USD/JPY fell by 0.20% to 145.43, while EUR/JPY fell by 0.13% to 159.74. The U.S. dollar index futures also experienced a 0.11% decrease to 101.96.
Overall, the surge in Japanese stocks reflects positive market sentiment and indicates a strong performance for the country’s equities.