Asian Markets Extend Gains; Nikkei 225 Up by 1.17%
In today’s trading session, Asian stocks were mostly on upward movement following the gains on Wall Street, with the Japanese Yen maintaining its recent advances after significant fluctuations yesterday.
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Japanese stocks closed higher fueled by the gains in the Electrical/Machinery, Gas & Water, and Chemical, Petroleum & Plastic sectors, which drove share prices upward.
Nikkei 225 is higher by 1.17% closing at 38,405.66. The Nikkei share average climbed, supported by a robust closing on Wall Street, as investors awaited the result of the US Federal Reserve’s meeting to gauge the trajectory of the Japanese yen.
In April, Nikkei 225 experienced its initial monthly decrease for this year, dropping by 4.99% representing its most significant monthly decline since December 2022.
Among the top performers on the Nikkei 225 for the session was Mitsubishi Electric Corp, which climbed 15.88% or 380 points to reach 2,763 at the close. Tokuyama Corp gained 11.40% or 333.50 points, closing at 3,255 while Komatsu Ltd. surged 11.52% or 491 points to 4,741 in late trading.
Meanwhile, M3 Inc was one of the lowest performers in trading, after dropping by 9.91% or 186 points to trade at 1,688 in late trading. While Nitto Denko Co also fell 8.31% or 1,185 points to close at 13,080, Advantest Corp declined by 7.29% or 393 points closing at 4,995.
Elsewhere in Asia, the Hang Seng index is up by 0.09% trading at 17,763.03 while the Shanghai Composite slightly slipped by 0.26% closing at 3,104.82.
South Korea’s Kospi also increased by 0.17%, trading at 2,692.06 and India’s Nifty 50 slid down by 0.17% to close at 22,604.85.
In Australia, the S&P/ASX 200 went up by 0.35% trading at 7,664.1.
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