Japanese Market Notably Higher

(RTTNews) - The Japanese stock market is notably higher on Wednesday, recouping the losses in the previous session, despite the broadly negative cues from global markets overnight. The Nikkei 225 moved above the 35,800 level, with gains across most sectors, led by index heavyweights, exporters and technology stocks.

The benchmark Nikkei 225 Index is up 205.56 or 0.58 percent at 35,824.74, after touching a high of 36,239.22 earlier. Japanese stocks ended significantly lower on Tuesday.

Market heavyweight SoftBank Group is gaining more than 2 percent and Uniqlo operator Fast Retailing is adding almost 1 percent. Among automakers, Honda is gaining more than 2 percent and Toyota is adding more than 1 percent.

In the tech space, Advantest and Tokyo Electron are gaining more than 2 percent each, while Screen Holdings is advancing almost 2 percent.

In the banking sector, Mizuho Financial is gaining more than 1 percent, while Mitsubishi UFJ Financial and Sumitomo Mitsui Financial are adding almost 1 percent each.

Among the major exporters, Sony is advancing almost 3 percent, Mitsubishi Electric is gaining almost 2 percent, Canon is adding almost 1 percent and Panasonic is up more than 1 percent.

Among other major gainers, Furukawa Electric is surging more than 6 percent, while CyberAgent and Kawasaki Kisen Kaisha are advancing more than 5 percent each. Lasertec, Mitsubishi and Mitsui O.S.K. Lines are gaining almost 5 percent each. Toyota Tsusho and Sompo Holdings are adding more than 4 percent each, while Marubeni, MS&AD Insurance, Fuji Electric, Aeon, Fujikura, Nippon Yusen K.K. and Toppan Holdings are advancing almost 4 percent each.

Conversely, Nexon is losing more than 3 percent and Fujitsu is declining almost 3 percent.

In the currency market, the U.S. dollar is trading in the lower 147 yen-range on Wednesday.

On the Wall Street, stocks closed notably lower on Tuesday as higher Treasury yields and concerns that the Federal Reserve may not cut interest rates anytime soon hurt sentiment.

The major averages all ended in the red with the Dow finishing with a more pronounced loss. The Dow settled with a loss of 231.86 points or 0.62 percent at 37,361.12, the S&P 500 ended down 17.85 points or 0.37 percent at 4,765.98 and the Nasdaq closed with a marginal loss of 28.41 points or 0.19 percent at 14,944.35.

The major European markets also moved to the downside on the day. The U.K.'s FTSE 100 drifted down 0.48 percent, Germany's DAX dropped 0.3 percent and France's CAC 40 settled lower by 0.18 percent.

Crude oil prices fell on Tuesday as a stronger dollar and forecasts that weather in the U.S. will be warmer than normal weighed on oil prices. West Texas Intermediate Crude oil futures ended down $0.28 at $72.40 a barrel.