Japanese stocks saw an upward trend on Monday, with the Nikkei 225 index climbing by 0.14%, marking a fresh one-month high. The market’s rise was driven by strong performances in the shipbuilding, power, and manufacturing sectors. Among the top gainers, IHI Corp. made a significant jump of 5.52%, closing at 6,688.00 points, reaching a five-year high. Credit Saison Co., Ltd. also showed impressive gains, increasing by 5.43% to end the session at 3,400.00 points, while Fujikura Ltd. surged by 4.94% to a record 4,415.00 points.
Conversely, the trading session saw some underperformers. Sumitomo Dainippon Pharma Co Ltd experienced a notable decline of 6.13%, closing at 628.00 points. Chugai Pharmaceutical Co., Ltd. followed closely with a 6.07% drop, ending at 6,936.00 points. Yamato Holdings Co., Ltd. also saw a dip of 3.37%, finishing at 1,635.00 points.
Despite the overall gains, the Tokyo Stock Exchange recorded more falling stocks than advancing ones, with 2,109 stocks declining compared to 1,517 that advanced, while 255 stocks remained unchanged. The Nikkei Volatility index, which gauges the implied volatility of Nikkei 225 options, decreased by 6.08%, reaching a new one-month low at 21.32.
In the commodities market, crude oil prices showed a slight decline, with October delivery dropping by 0.60% to $73.11 a barrel. Brent oil for November delivery also fell by 0.71%, trading at $76.38 a barrel. On a more positive note, the December Gold Futures contract edged up by 0.22%, reaching $2,533.10 per troy ounce.
Fidelity Japan Trust PLC (LON:FJV) aims to be the key investment of choice for those seeking Japanese companies exposure. The Trust has a ‘growth at reasonable price’ (GARP) investment style and approach – which involves identifying companies whose growth prospects are being under-appreciated or are not fully recognised by other investors.
