Tokyo stocks rose on Friday and the Nikkei index broke a three-day losing streak, stock data showed on May 31.
Japan’s benchmark Nikkei 225 index rose 433.77 points (1.14%) since Thursday to 38,487.90. The broader Topix index ended up 46.29 points, or 1.70%, at 2,772.49, a two-month high since March 27.
In the prime stock section of the exchange (Prime), all industrial categories strengthened their positions, and the growth leaders were electricity and gas stocks, as well as real estate companies.
Growth leaders: Sumitomo Dainippon Pharma (+6.64%), Tokyo Electric Power Co stock (+6.11%) and IHI Corp (+5.72%) moved from the top three to the top three.
Top losers: Tokyo Electron (-2.52%), Omron Cor (-1.83%) and Bandai Namco Holdings Inc (-1.65%).
Stocks have been rising since the start of trading and after the Nikkei index lost more than 800 points in the last three trading days, there was demand for a wide range of securities.
Traders were also relieved that the yield on benchmark 10-year government bonds slowed, as it remained below the previous day’s high of 1.100 percent, its highest level since December 2011, according to Japan Bond Trading Co.
While stocks extended gains in the afternoon, helped by gains in other Asian markets, traders were cautious ahead of the release of data on U.S. personal consumer spending to gauge expected inflation later in the year. day.
The Federal Reserve is keeping interest rates at their highest levels in more than two decades amid persistent inflation, as the market closely watches for any sign of when the U.S. central bank will cut interest rates. The PCE index is a key indicator of inflation that the Federal Reserve monitors closely.
Among the most actively traded stocks in Japan, the lead for the 31st day is held by Nippon Telegraph & Telephone Corp shares (301.19 million) (226th consecutive trading session in the top 5). Second place for the tenth day is occupied by the shares of Japan’s largest energy company, Tokyo Electric Power Co (TEPCO) (99.62 million), which after two days of being among the top three in price declines, moved to be among the top three. growth leaders (73d). In third position, also for the tenth day, are the securities of the country’s main financial group, Mitsubishi UFJ Financial Group (98.48M). The fourth line was occupied by the shares of the architecture company Shimizu Corp (54.76 million), which have not occupied the first place since March 2023 (263 trading days). The top five trading leaders were closed by Mitsubishi Heavy Industries shares (38.65 million) (5 pence).
Note that the main activists today were “green”, as the quotes of all their participants rose, while the total trading volume in shares of the Japanese market leaders today increased significantly, amounting to 592.7 million, which which exceeds the daily average in May (412.2 million).
Source: Rossa Primavera
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