Japan Stock Market May Extend Winning Streak

RTTNews | 105 일 전

(RTTNews) - The Japanese stock market has finished higher in three straight sessions, collecting almost 1,500 points or 4.2 percent along the way. The Nikkei 225 now sits just above the 35,700-point plateau and it's expected to open to the upside again on Monday.

The global forecast for the Asian markets is positive on easing tariff tensions between the United States and China. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.

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

For the day, the index jumped 666.64 points or 1.90 percent to finish at 35,705.74 after trading between 35,337.98 and 35,835.28.

Among the actives, Nissan Motor strengthened 1.61 percent, while Mazda Motor accelerated 2.80 percent, Toyota Motor improved 1.22 percent, Honda Motor added 0.70 percent, Softbank Group spiked 2.89 percent, Mitsubishi UFJ Financial collected 0.78 percent, Mizuho Financial climbed 1.04 percent, Sumitomo Mitsui Financial advanced 1.07 percent, Mitsubishi Electric soared 3.89 percent, Sony Group perked 0.20 percent, Panasonic Holdings jumped 1.54 percent and Hitachi surged 5.26 percent.

The lead from Wall Street is upbeat as the major averages opened mixed on Friday but a late rally pushed them all into the green by the close.

The Dow rose 20.10 points or 0.05 percent to finish at 40,113.50, while the NASDAQ rallied 216.94 points or 1.26 percent to close at 17,382.94 and the S&P 500 climbed 40.44 points or 0.74 percent to end at 5,525.21. For the week, the NASDAQ spiked 6.7 percent, the S&P 500 surged 4.6 percent and the Dow shot up by 2.5 percent.

The volatility on the day came as traders kept a close eye on the developments on the trade front, with President Donald Trump refuting China's claims that the two countries have not held any trade negotiations.

Several reports citing U.S. businesses also said China has exempted some U.S. imports from its 125 percent tariffs.

In U.S. economic news, the University of Michigan said consumer sentiment in the U.S. deteriorated less than previously estimated in the month of April.

Crude oil futures moved modestly higher on Friday amid signs of easing trade tensions between the U.S. and China. West Texas Intermediate crude for June delivery rose $0.23 or 0.4 percent to $63.02 a barrel. For the week, crude for June delivery tumbled $0.99 a barrel or 1.6 percent.

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