Tokyo equities finished the trading session lower on Wednesday, pressured by sector-level declines in Paper & Pulp, Transport and Communication that helped push the Nikkei 225 into negative territory.
At the close in Tokyo, the Nikkei 225 fell 1.85% and closed at 66,992.00, down 1,264.96 points (-1.85%).
The session produced mixed individual stock moves. The strongest performers on the Nikkei 225 were Tokyo Electric Power Co., Inc. (TYO:9501), which advanced 3.81% or 17.60 points to finish at 479.90; Mercari Inc (TYO:4385), which rose 3.39% or 153.00 points to end at 4,665.00 and reached three-year highs; and Inpex Corp. (TYO:1605), which gained 3.26% or 107.00 points to close at 3,388.00.
At the other end of the index, notable declines included Taiyo Yuden Co., Ltd. (TYO:6976), down 8.50% or 1,390.00 points to 14,965.00 at the close; Hoya Corp (TYO:7741), which fell 6.77% or 1,735.00 points to finish at 23,910.00; and Mitsui Mining and Smelting Co. (TYO:5706), which dropped 6.12% or 2,200.00 points to 33,730.00.
Market breadth on the Tokyo Stock Exchange favored decliners, with 2,217 stocks falling versus 1,299 advancing and 226 unchanged.
Volatility measures shifted as well. The Nikkei Volatility index, which reflects the implied volatility of Nikkei 225 options, moved lower by 20.50% to 29.70.
Commodities saw significant moves during the session. Crude oil for August delivery rose 3.22% or 2.27 to settle at $72.71 a barrel. Brent oil for September delivery climbed 3.26% or 2.42 to $76.58 a barrel. In precious metals, the August Gold Futures contract declined 0.63% or 26.20 to trade at $4,131.20 a troy ounce.
Currency and dollar measures were little changed. USD/JPY was up 0.15% at 162.22, while EUR/JPY increased 0.16% to 185.29. The US Dollar Index Futures ticked up 0.01% to 100.79.
Session takeaways:
- The Nikkei 225 closed down 1.85% at 66,992.00, losing 1,264.96 points for the day.
- Gains were concentrated in a few names such as Tokyo Electric Power, Mercari and Inpex, while several industrial and technology-linked stocks recorded steep declines.
- Oil prices moved higher, and gold futures slipped, as volatility on the Nikkei eased.