Win Streak May Continue For Japan Stock Market

(RTTNews) - The Japan stock market has tracked higher in three straight sessions, accelerating almost 750 points or 2 percent along the way. The Nikkei 225 now sits just shy of the 27,725-point plateau and it may add to its winnings again on Wednesday.

The global forecast for the Asian markets is upbeat on easing tariff and trade war concerns. The European markets were mixed and the U.S. bourses were sharply higher and the Asian markets figure to split the difference.

The Nikkei finished modestly higher on Tuesday following gains from the financial shares, technology stocks and automobile producers.

For the day, the index jumped 192.58 point or 0.51 percent to finish at 27,724.11 after trading between 37,411.68 and 37,769.05.

Among the actives, Nissan Motor accelerated 2.07 percent, while Mazda Motor strengthened 1.33 percent, Toyota Motor improved 0.71 percent, Honda Motor rose 0.39 percent, Softbank Group spiked 2.23 percent, Mitsubishi UFJ Financial climbed 1.13 percent, Mizuho Financial collected 1.33 percent, Sumitomo Mitsui Financial added 0.50 percent, Mitsubishi Electric jumped 1.79 percent, Sony Group rallied 1.84 percent, Panasonic Holdings slumped 1.25 percent and Hitachi improved 1.92 percent.

The lead from Wall Street is broadly positive as the major averages opened in the green and continued to accelerate as the day progressed.

The Dow spiked 740.58 points or 1.78 percent to finish at 42,343.65, while the NASDAQ surged 461.96 points or 2.47 percent to close at 19,199.16 and the S&P 500 jumped 118.72 points or 2.05 percent to end at 5,921.54.

The rally on Wall Street came after President Donald Trump announced he is delaying a threatened 50 percent tariff on imports from the European Union.

The move by Trump came as analysts previously suggested the threatened tariff on the EU was just a negotiating tactic and not where the eventual rate will wind up.

Positive sentiment was also generated in reaction to a report released by the Conference Board showing a substantial improvement by U.S. consumer confidence in the month of May.

Crude oil prices slumped on Tuesday on continuing concerns that OPEC may boost output at its meeting later today. West Texas Intermediate crude for June delivery dropped 0.65 or 1 percent to $64.09 per barrel.