The Nikkei Stock Average Volatility Index (Nikkei VI) fell 2.38 points from the previous day to 28.03. Market-moving factors were mixed during the day, with developments surrounding Nvidia's earnings and elevated oil prices and long-term yields affecting market sentiment.
Nikkei VI fell 2.38 points from the previous day to 28.03, with an intraday high of 31.63 and a low of 28.03. Nikkei 225 futures rose briefly before trading without a clear direction, and during trading hours the market held its level while closely watching stock prices.
Ahead of Nvidia's May-July earnings announcement, the company's shares rose in after-hours trading in the US market, providing reassurance to the Tokyo market. Meanwhile, rising oil prices and firm US long-term yields acted as cautionary factors.
With these positive and negative factors mixed, market sentiment did not tilt in one direction, and Nikkei VI continued to move around the previous day's level while investors assessed stock prices. By the end of trading, the decline in Nikkei VI had widened.
Nikkei VI is an indicator of the market's expected volatility over the coming month and tends to rise sharply during steep declines. The index also tends to revert to a range of 20 to 30.
Fisco is cited as the source for coverage of today's market moves, and Nikkei VI may move in tandem with developments in US markets and energy and interest-rate trends.