Japanese Market Notably Higher

(RTTNews) - The Japanese market is trading notably higher on Thursday after opening in the red, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 42,650 level, with gains in index heavyweights, automakers and financial stocks.

The benchmark Nikkei 225 Index is up 174.83 points or 0.41 percent to 42,695.10, after touching a high of 42,709.24 earlier. Japanese shares ended modestly higher on Wednesday.

Market heavyweight SoftBank Group is gaining almost 4 percent and Uniqlo operator Fast Retailing is edging up 0.1 percent. Among automakers, Toyota is edging up 0.2 percent and Honda is also edging up 0.5 percent.

In the tech space, Advantest is edging down 0.1 percent, while Screen Holdings and Tokyo Electron are gaining almost 1 percent each.

In the banking sector, Mizuho Financial is gaining 1.5 percent, while Sumitomo Mitsui Financial and Mitsubishi UFJ Financial are edging up 0.1 to 0.2 percent each.

Among the major exporters, Sony, Panasonic and Mitsubishi Electric are edging down 0.1 to 0.2 percent each, while Canon is edging up 0.1 percent.

Among other major gainers, Sompo Holdings is surging almost 5 percent, Inpex is gaining more than 3 percent and Fujikura is adding almost 3 percent.

Conversely, Nikon is losing more than 3 percent.

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

On Wall Street, stocks saw some further upside during trading on Wednesday after ending yesterday's choppy trading session mostly higher. While buying interest was somewhat subdued, the S&P 500 managed to reach a new record closing high.

The major averages all posted modest gains on the day. The Dow rose 147.16 points or 0.3 percent to 45,565.23, the Nasdaq edged up 45.87 points or 0.2 percent at 21,590.14 and the S&P 500 crept up 15.46 points or 0.2 percent to 6,481.40.

Meanwhile, the major European markets ended the day mixed. While the French CAC 40 Index climbed by 0.4 percent, the U.K.'s FTSE 100 Index edged down by 0.1 percent and the German DAX Index fell by 0.4 percent.

Crude oil prices surged on Wednesday after U.S. crude and gasoline inventories fell more than expected last week. West Texas Intermediate crude for October delivery was up $0.83 or 1.33 percent at $64.08 per barrel.