The Nikkei 225 Index Closes 1.95% Higher

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.

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%).