Japanese stocks closed higher on Wednesday, supported by gains in the real estate, banking and textile sectors.
The Nikkei 225 advanced 0.83% to 69,980 points, reaching a new record high at the end of the Tokyo trading session.
Lasertec Leads Nikkei 225 Gains
Lasertec was the strongest performer on the Nikkei 225. Its shares surged 13.16%, or 6,130 points, to close at 52,700 yen.
The gain pushed Lasertec stock to a new all-time high.
Kawasaki Heavy Industries also recorded a strong session. The company’s shares rose 7.75%, or 235 points, to finish at 3,266 yen.
Japan Steel Works gained 7.07%, adding 548 points to close at 8,295 yen.
SoftBank and Olympus Shares Decline
T&D Holdings was the weakest performer during the session. Its shares fell 3.18%, or 156 points, to 4,746 yen.
SoftBank Group declined 3.13%, losing 222 points to end the day at 6,880 yen.
Olympus shares also moved lower, falling 3.01%, or 50 points, to close at 1,612 yen.
Rising Stocks Outnumber Decliners
Market breadth remained positive on the Tokyo Stock Exchange.
A total of 2,347 stocks closed higher, while 1,194 shares declined. Another 226 stocks ended the session unchanged.
The figures showed that the advance extended beyond a small group of major Nikkei 225 companies.
Nikkei Volatility Drops Sharply
The Nikkei Volatility Index fell 10.61% to 31.09.
The index measures expected volatility based on Nikkei 225 options. A lower reading generally suggests that investors expect less dramatic market movement.
Oil and Gold Prices Move Lower
Commodity markets were mostly weaker during the session.
US crude oil futures for July delivery fell 1.03%, or $0.78, to $75.27 per barrel.
Brent crude futures for August delivery declined 0.82%, or $0.65, to $78.31 per barrel.
August gold futures slipped 0.08%, or $3.35, to trade at $4,351.05 per troy ounce.
Japanese Yen Strengthens Slightly
The Japanese yen gained modestly against major currencies.
The USD/JPY pair declined 0.11% to 160.25, while EUR/JPY fell 0.09% to 186.02.
Meanwhile, US Dollar Index futures increased 0.05% to 99.32.
The combination of broad sector gains, strong market breadth and sharp advances in major industrial and technology stocks helped the Nikkei 225 close at a fresh record high.
