The Nikkei 225 Index Closes 0.74% Lower

The Nikkei 225 Index went up by 1280 points or 1.95 percent on Monday to close at 66887 points. The rise was led by Recruit Holdings (22.79%), Sumitomo Metal Mining (12.73%) and Olympus (9.63%).

The Nikkei 225 Index climbed 2.08% to close at 66,970 while the broader Topix Index advanced 0.63% to 4,101 on Monday, with Japanese equities reaching multi-week highs and following Wall Street higher after weaker-than-expected US jobs data reduced expectations for a near-term Federal Reserve interest rate hike. Investors also remained focused on developments in the Middle East as Iran denied holding direct negotiations with the US, despite Washington’s claims that a deal was close. Domestically, data showed Japan’s current account surplus narrowed in June, as strong exports of AI-related electronics were offset by a rise in imports amid increased crude oil purchases. Chipmakers and AI-linked stocks spearheaded the gains, with Fujikura (7.6%), Furukawa Electric (2.5%), Advantest (6.4%), Ibiden Co (4%) and Tokyo Electron (4.1%) posting notable advances. Consumer stocks also performed well, while financial stocks slumped. Japanese markets will be closed on Tuesday for a holiday.

The Nikkei 225 Index dropped 183 points or 0.28 percent on Friday to close at 65500 points. Losses were led by M3 (-17.95%), Fujifilm (-17.02%) and Lasertec Corp (-11.68%). Offsetting the fall, top gainers were Fujikura (13.66%), Bandai Namco Holdings (10.01%) and Resonac Holdings (8.22%).