Japan stocks rose as Nikkei 225 hit a new 3-months peak

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Japan stocks increased on September 8, as gains in the Railway & Bus, Paper & Pulp, and Real Estate sectors led shares higher.

At the close in Tokyo, the Nikkei 225 surged 0.89% to settle at 30,181.21, a new 3-months peak.

Among the best performers were Softbank Group., which surged by 4.64% or 322.0 points to trade at 7265.0 at the close. Additionally, Nikon Corp. advanced 4.18% or 51.0 points to 1270.0. Meanwhile, Rakuten Inc rose 3.89% or 43.0 points to 1147.0 in late trade.

Meanwhile, among the worst performers of the session were JFE Holdings, Inc., which sank 1.94% or 37.0 points to settle at 1875.0 at the close. Chugai Pharmaceutical Co., Ltd. dipped 1.86% or 82.0 points to end at 4327.0, and Nippon Express Co., Ltd. fell by 1.48% or 120.0 points to 8010.0.

Growing stocks outnumbered fading ones on the Tokyo Stock Exchange by 2441 to 1048, and 269 ended unchanged.

Additionally, shares in Nikon Corp. increased to 52-week highs, up 4.18% or 51.0 to 1270.0.

Meanwhile, the Nikkei Volatility, which gauges the implied volatility of Nikkei 225 options, was unchanged to 20.40.

Japan’s ruling Liberal Democratic Party is scheduled to elect a new prime minister to succeed Yoshihide Suga. Notably, this is adding to uncertainty over future policy, but fresh stimulus for the world’s third-biggest economy is anticipated in the following weeks.

Asian stocks were mostly down, with Hang Seng in Hong Kong declining 0.1%

In Asian trading, the Hang Seng in Hong Kong shed early gains, declined 0.1% to 26,320.93. The Shanghai Composite index lost 1.4 points to 3,675.19. South Korean Kospi dipped 0.8% to 3,162.99. S&P/ASX 200 in Australia dropped 0.2% to 7,512.00.

The S&P 500 slipped 0.3% to 4,520.03. The Dow sank 0.8% to 35,100, while the Nasdaq composite surged 0.1% to 15,374.33, it’s fourth consecutive record high.

Crude oil for October delivery surged 0.54% or 0.37 to settle at $68.72 a barrel. Meanwhile, in commodities trading, Brent oil for delivery in November increased by 0.38% or 0.27 to trade at $71.96 a barrel, while the December Gold Futures contract soared 0.26% or 4.65 to hit $1803.15 a troy ounce.

The U.S. dollar against the safe-haven Japanese yen declined by 0.05% to 110.21. Meanwhile, the euro against the yen stood at 130.54. The U.S. dollar index futures advanced 0.04% to settle at 92.552.

On Wednesday, the Labor Department is expected to report job openings for July. Meanwhile, the market is waiting for another update on inflation which is due on Friday.

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