Tuesday, April 16, 2024
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Japanese Stocks Close Lower as Transport, Gas & Water, and Steel Sectors Suffer Losses

The Japanese stock market closed lower on Thursday, with the Nikkei 225 down 0.17%. The Transport, Gas & Water, and Steel sectors led the decline, dragging shares lower.

Performance of Nikkei 225 Stocks

Recruit Holdings Co Ltd (TYO:6098) was the best performer of the session on the Nikkei 225, rising by 4.78% or 167.00 points to trade at 3,660.00 at the close. NH Foods Ltd (TYO:2282) added 2.61% or 100.00 points to end at 3,925.00, while Okuma Corp. (TYO:6103) was up 2.14% or 120.00 points to 5,740.00 in late trade.

On the other hand, Dai-ichi Life Holdings Inc (TYO:8750) was the worst performer of the session, falling by 2.76% or 66.50 points to trade at 2,345.00 at the close. T&D Holdings, Inc. (TYO:8795) declined by 2.68% or 43.00 points to end at 1,559.00, while Takeda Pharmaceutical Co., Ltd. (TYO:4502) was down by 2.61% or 114.00 points to 4,251.00.

Market Outlook and Volatility

Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 2195 to 1318, and 298 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 10.18% to 20.48.

Commodities Trading and Currency Markets

In commodities trading, crude oil for May delivery was down by 0.87% or 0.62 to $70.28 a barrel. Brent oil for delivery in May fell by 0.74% or 0.57 to hit $76.12 a barrel, while the April Gold Futures contract rose by 1.71% or 33.30 to trade at $1,982.90 a troy ounce.

As for the currency markets, the USD/JPY was down by 0.54% to 130.73, while the EUR/JPY rose by 0.02% to 142.71. The US Dollar Index Futures was down by 0.33% at 101.64.

Conclusion

The Transport, Gas & Water, and Steel sectors’ losses led to a decline in the Japanese stock market, with the Nikkei 225 down 0.17%. While some stocks performed well, others suffered losses. The market outlook and volatility showed a mixed picture, with rising stocks outnumbering declining ones. In commodities trading, crude oil and Brent oil experienced losses, while April Gold Futures rose. The currency markets showed a mixed picture, with the USD/JPY down and the EUR/JPY up. The US Dollar Index Futures also suffered losses.

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