Japanese stocks closed higher on Monday, supported by gains in technology and energy shares. The Nikkei 225 index rose 0.9% to close at 50,725.80, continuing its positive trend as a weaker yen boosted Japan's export prospects. NEC shares rose 2.7%, while energy company Inpex rose 2.3%.
The Nikkei's rise was also driven by optimism regarding the Japanese corporate earnings season. Investors awaited the upcoming results from major companies such as Sumitomo Metal Mining and Subaru Corp. Expectations that these companies would post solid earnings boosted market confidence.
However, not all stocks performed positively. Honda Motor fell 3.8% after cutting its annual profit forecast, fueling concerns about global demand in the automotive sector. However, the decline was not enough to halt the rise in the main index, as the technology sector remains a key driver of the market.
Overall, the Japanese market was supported by a combination of positive factors, including a weaker yen at 153.90 per US dollar and growing investor interest in export-oriented stocks. Analysts believe the Nikkei's upward trend has the potential to continue if global sentiment remains stable and domestic companies' financial reports show strong results. (asd)
Source: Newsmaker.id
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