Japan's equity market finished Friday's session in negative territory, with the Nikkei 225 closing down 4.09% as losses in the Paper & Pulp, Transport and Communication sectors weighed on the index.
At the Tokyo close, the Nikkei 225 declined 4.09%, with the intraday chart showing a close at 69,408.00, down 2,958.34 points or 4.09% from the prior reference level.
Among individual movers on the Nikkei 225, Kao Corp. (TYO:4452) recorded the largest gains, advancing 4.85% or 303.00 points to finish at 6,544.00. Haseko Corp (TYO:1808) was up 3.31% or 91.50 points, closing at 2,852.50, and Olympus Corp. (TYO:7733) increased 2.97% or 48.50 points to end the day at 1,684.00.
By contrast, several large-cap stocks posted steep losses. SoftBank Group Corp. (TYO:9984) fell 12.53% or 892.00 points to close at 6,226.00. Kioxia Holdings Corp (TYO:285A) was down 11.24% or 11,670.00 points to end at 92,180.00, and Taiyo Yuden Co., Ltd. (TYO:6976) dropped 10.84% or 2,040.00 points to 16,780.00.
On the Tokyo Stock Exchange overall, advancing issues narrowly outnumbered decliners, with 1,785 stocks higher versus 1,730 lower, while 235 issues finished unchanged.
Volatility on the Nikkei sell-off eased: the Nikkei Volatility index, which gauges implied volatility for Nikkei 225 options, fell 22.47% to 30.77.
Commodity markets moved lower in tandem with equities. Crude oil for August delivery slipped 1.93% or 1.39 to $70.53 a barrel. Brent crude for September delivery declined 1.74% or 1.31 to $74.19 a barrel. Gold futures for August eased 0.06% or 2.23 to trade at $4,045.37 a troy ounce.
In currency markets, USD/JPY traded down 0.04% at 161.73, while EUR/JPY was unchanged at 183.96. The US Dollar Index Futures was marginally lower, down 0.01% at 101.18.
Below are the session takeaways:
- Index movement - Nikkei 225 closed down 4.09%, declining by 2,958.34 points to 69,408.00.
- Top gainers - Kao Corp. (4452) +4.85%; Haseko (1808) +3.31%; Olympus (7733) +2.97%.
- Top decliners - SoftBank Group (9984) -12.53%; Kioxia (285A) -11.24%; Taiyo Yuden (6976) -10.84%.
- Market breadth - 1,785 advancing issues, 1,730 declining, 235 unchanged.
- Volatility - Nikkei Volatility down 22.47% to 30.77.
- Commodities & FX - Brent and WTI crude lower; gold futures modestly down; USD/JPY slightly weaker.
This session's market action showed a mix of outsized moves among individual names while the broader index registered a substantial decline. The distribution of advancing and declining stocks was relatively balanced despite the Nikkei's fall, and implied volatility on Nikkei options dropped meaningfully.