As a roundup of the stocks bought the previous day, shipping stocks’ rebound became increasingly evident, with Mitsui O.S.K. Lines surging and extending its winning streak to 4 days. Expectations of tight supply and demand in maritime transport were highlighted following Maersk’s earnings announcement, prompting buying across the sector.
Shipping stocks became increasingly active, with Mitsui O.S.K. Lines rising to ¥6,881 and recording gains for 4 consecutive days. Nippon Yusen and Kawasaki Kisen also remained firm, drawing market attention to the shipping sector’s rebound. Expectations of higher freight rates amid disruptions to transport networks, including concerns over a possible blockade of the Strait of Hormuz and activity by armed groups, provided the backdrop, while Maersk’s strong earnings helped encourage other companies to raise their full-year forecasts.
Dentsu Soken rebounded sharply as investors bought the stock after Oasis Management reported a 5.00% stake, which was viewed as a catalyst. The stated purpose of the holding is to exchange views on management policy and improve corporate governance, and news that the report supported the share price spread through the market.
Komehyo Holdings rose to ¥5,500 after Tokai Tokyo Intelligence Lab raised its price target. The report indicated that increased demand for purchases and expansion of the reuse market would support earnings growth over the medium to long term.
INPEX, Towa Pharmaceutical, Fina HD, Aeon Fantasy, Daiichi Sankyo, Toho, Yokohama Financial Group and Meiji Holdings all rose. Developments involving crude oil, new-drug approvals, earnings and corporate partnerships emerged in succession, with buying catalysts for each stock helping push share prices higher.