Japanese Market Modestly Higher

RTTNews | 50日前

(RTTNews) - The Japanese stock market is modestly higher on Wednesday, extending the gains in the previous session, following the mixed cues from Wall Street overnight. The Nikkei 225 is moving above the 39,750 level, with strong gains in technology stocks partially offset by weakness in index heavyweights, exporters and financial stocks.

The benchmark Nikkei 225 Index is up 96.87 or 0.24 percent at 39,774.89, after hitting a low of 39,520.96 and a high of 39,780.60 earlier. Japanese stocks ended notably higher on Tuesday.

Market heavyweight SoftBank Group is edging down 0.3 percent and Uniqlo operator Fast Retailing is losing almost 1 percent. Among automakers, Honda is losing almost 1 percent and Toyota is edging down 0.1 percent.

In the tech space, Advantest is edging up 0.5 percent, Tokyo Electron is gaining almost 2 percent and Screen Holdings is adding almost 1 percent.

In the banking sector, Sumitomo Mitsui Financial and Mitsubishi UFJ Financial are declining almost 1 percent each, while Mizuho Financial is edging down 0.2 percent.

Among the major exporters, Canon and Sony are losing almost 1 percent each, while Panasonic is edging down 0.4 percent. Mitsubishi Electric is edging u[ 0.4 percent.

Among other major gainers, Toho is soaring more than 9 percent.

Conversely, NH Foods and Isetan Mitsukoshi are losing almost 3 percent each.

In the currency market, the U.S. dollar is trading in the higher 148 yen-range on Wednesday.

On the Wall Street, stocks moved mostly higher early in the session on Tuesday but gave back ground over the course of the trading day. The major averages pulled back well off their highs of the session before eventually closing mixed.

While the tech-heavy Nasdaq rose 37.47 points or 0.2 percent to a new record closing high of 20,677.80, the S&P 500 fell 24.80 points or 0.4 percent to 6,243.76 and the Dow slumped 436.36 points or 1.0 percent to 44,023.29.

Meanwhile, the major European markets moved to the downside over the course of the session. While the U.K.'s FTSE 100 Index slid by 0.7 percent, the French CAC 40 Index decreased by 0.4 percent and the German DAX Index dipped by 0.4 percent.

Crude oil prices fell modestly on Tuesday as the previously predicted supply-side pressure from Russia due to President Donald Trump's sanctions waned with his 50-day ultimatum. West Texas Intermediate crude for August delivery closed down by $0.46 at $66.52 per barrel.

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