Japan Stocks Close Lower as Nikkei 225 Drops 2.92%
Japanese equities ended Monday’s session in negative territory, with declines in the Paper & Pulp, Transport, and Communication sectors weighing heavily on overall market performance.
At the close in Tokyo, the Nikkei 225 index recorded a notable loss of 2.92%, reflecting broad-based selling pressure across the market.
Top Gainers on the Nikkei 225
Despite the overall downturn, several stocks managed to post gains during the session.
JGC Corp. (TYO:1963) emerged as the top performer, rising 2.35% (51.50 points) to close at 2,246.50.
Chugai Pharmaceutical Co., Ltd. (TYO:4519) followed with an increase of 1.41% (120.00 points), ending at 8,660.00.
Meanwhile, Japan Tobacco Inc. (TYO:2914) advanced 1.30% (78.00 points) to settle at 6,056.00 in late trading.
Biggest Decliners of the Session
On the downside, several major stocks experienced sharp losses.
Mitsubishi Motors Corp. (TYO:7211) led the declines, falling 7.89% (26.40 points) to close at 308.00, marking a three-year low.
Mazda Motor Corp. (TYO:7261) dropped 7.30% (82.00 points) to 1,041.00, while Taiyo Yuden Co., Ltd. (TYO:6976) declined 7.27% (300.00 points) to 3,825.00.
Market Breadth and Volatility
Market sentiment remained heavily negative, as declining stocks significantly outnumbered advancing ones, with 3,341 stocks falling, compared to just 374 gainers, while 84 remained unchanged on the Tokyo Stock Exchange.
At the same time, the Nikkei Volatility Index, which tracks implied volatility for Nikkei 225 options, fell sharply by 25.09% to 33.32, indicating reduced expectations of near-term market turbulence.
Commodities and Currency Movements
In the commodities market, crude oil for May delivery climbed 2.50% to $102.13 per barrel, while Brent crude for June rose 3.47% to $108.97 per barrel.
Gold futures for June delivery also moved higher, gaining 0.62% to reach $4,552.25 per troy ounce.
On the currency front, the USD/JPY pair declined 0.29% to 159.85, while EUR/JPY slipped 0.34% to 183.91.
Meanwhile, the US Dollar Index Futures edged up slightly by 0.04% to 100.02.
