VT Markets APP

Trade CFDs on FX, Gold and more


Japan’s Nikkei Tracks Wall Street’s Positive Movement

April 30, 2024

Japan’s Nikkei 225 index experienced a rise of 1.24%, closing at 38,405.66, driven by an upbeat performance in U.S. markets and investor optimism.

Chart showing slight rise of Nikkei225 on the VT Markets trading app.

SEE: Nikkei sees modest rise on the VT Markets VT Markets app.

Despite this daily gain, the Nikkei recorded a 4.99% drop in April, marking its first monthly decline of the year and its steepest since December 2022.

Topix Index Soars

In contrast, the broader Topix index appreciated, jumping 2.2% to reach 2,743.17. Key performers included Tokyo Electron, which saw a 2.6% increase in its shares. Similarly, Shin-Etsu Chemical enjoyed a substantial surge of 4.89%, while SoftBank Group’s shares rose by 1.71%.

As the market’s attention pivots to the U.S. Federal Reserve’s policy meeting, the performance of the Japanese yen is particularly noteworthy.

Following an unconfirmed intervention by Japanese authorities, the yen strengthened against the dollar, moving away from a 34-year low. The upcoming Fed meeting could potentially impact these gains, especially if the Fed’s stance is more hawkish than expected.

KFC Holdings, Sumitomo Corp Sees Pump

On the corporate front, KFC Holdings saw a 5.46% increase after reports emerged of Carlyle’s potential acquisition of the franchise operator.

Similarly, Sumitomo Corp experienced a 6.29% uplift after news that Elliott Management had acquired a significant stake in the company.

Today’s trading session saw positive movement across the board, with 187 of the 225 Nikkei components showing gains. This reflects a broader confidence in the market, albeit tempered by the anticipation of the Fed’s next moves.

Whether you’re tracking the effects of Federal Reserve meetings on global indices or keeping an eye on corporate developments in Japan, the VT Markets app provides the critical data you need at your fingertips.

Start trading today. Click here to open a live account.