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Japan’s Nikkei Index Recovers Early Losses and Closes Higher, Boosted by Automotive Sector

The Japanese Nikkei index recovered its early losses to close Wednesday’s session higher,
supported by strong gains in the automotive manufacturing sector.
Retail investors dominated trading during the limited activity caused by the Christmas holiday,
which impacted global markets.

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Nikkei
SoftBank

Nikkei

The Nikkei index rose by 0.24% to close at 39,130.43 points, after falling by 0.28% during early trading.
The automotive sector led the gains, climbing 2.9%,
marking the best performance among the 33 sub-sectors on the Tokyo Stock Exchange.
Nissan Motor posted the largest increase, surging by 8.66%.

The broader Topix index also closed higher, gaining 0.24% to end at 2,733.86 points,
bolstered by a 4.57% rise in Toyota Motor’s shares, which played a significant role in lifting the index.

SoftBank

Shares of SoftBank Group, a leading investor in emerging technology companies,
rose by 1.27%, providing additional support to the Nikkei index.
Additionally, shares of Fast Retailing, the parent company of the Uniqlo brand, edged up by 0.26%.

On the other hand, banking stocks declined,
with Mitsubishi UFJ Financial Group falling by 0.44% and Sumitomo Mitsui Financial Group dropping by 0.56%.

According to Fumio Matsumoto, Chief Strategist at Okasan Securities,
the absence of foreign investors during the holiday season made it challenging for the market to find a clear direction.
He added, “Local investors are the sole drivers of trading at the moment,
but they are hesitant to make major decisions in the absence of foreign participants
and without significant movements in major stocks.”

Among the more than 1,600 stocks listed on the Tokyo Stock Exchange’s main market,
52% advanced, 44% declined, and 3% remained unchanged.

Japan’s Nikkei Index Recovers Early Losses and Closes Higher

The Nikkei index closes steady with gains: The Japanese index, Nikkei, saw a significant change at the close on Tuesday,
as the gains of rising chip stocks offset the decline in leading shares such as Fast Retailing and Nissan Motor.

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Oil prices stabilise

The Nikkei index closes steady with gains

Bitcoin rises again

Oil prices stabilise

Oil prices saw little change on Tuesday after the gains achieved in the previous session,
as investor expectations varied amid Russia’s supply cuts due to recent Ukrainian attacks on Russian refineries.
However, the slight decline in the dollar provided some support.
Brent crude futures for May delivery rose by seven cents to $86.82 a barrel.
West Texas Intermediate (WTI) crude futures rose six cents to $82.01.
In Monday’s session, Brent crude rose by 1.5%,
while WTI crude increased by 1.6% after Russia asked its oil companies to reduce production
to meet OPEC’s target of nine million barrels per day.
At the end of February, Russia’s total production was about 9.5 million barrels daily.

Russia, one of the world’s top three oil producers and a significant exporter of oil products,
faces attacks by Ukraine on its refineries.
These attacks could reduce Russia’s production capacity by about 900,000 barrels per day for several weeks,

and, in some cases permanently.

The Nikkei index closes steady with gains.

The Japanese index, Nikkei, witnessed a significant change at the close on Tuesday,
as the gains of rising chip stocks offset the decline in leading shares such as Fast Retailing and Nissan Motor.
Three leading semiconductor sector stocks topped the Nikkei, with Tokyo Electron,
the giant chip-making equipment company, leading the way,
influenced by the performance of its American counterpart, Nvidia,
which recorded a record high.
On the other hand, Nissan’s stock fell by about 4% after updating the company’s medium-term business plan,
disappointing investor expectations. Fast Retailing’s stock declined by 1.63% after reaching a record high on Friday.
The Nikkei closed at 40,398.03 points, down slightly by 0.04% on Tuesday, while the broader Topix index rose by 0.11%.
The Nikkei had fallen by 1.16% on Monday after reaching an all-time high on Friday at 41,087.75 points.
The index has risen by more than 20% since the beginning of the year.

Bitcoin rises again

Bitcoin saw a strong rise on Monday and today as well.
The famous digital currency rose 7% this time, reclaiming the $70,000 level.
The currency had risen to the $60,000 level for the first time since 2021
and was on its way to achieving a record level in March.
Trading saw a shift towards the United States alongside the launch of Bitcoin Exchange-Traded Funds (ETFs),
which attracted more than $11 billion in net inflows since their first launch on January 11.

The Nikkei index closes steady with gains