Japan Stock Market May Hand Back Tuesday's Gains

(RTTNews) - The Japanese stock market on Tuesday ended the three-day losing streak in which it had plummeted almost 4,500 points or 13.3 percent. The Nikkei 225 now rests just above the 33,000-point plateau although it's likely to see renewed selling pressure on Wednesday.

The global forecast suggests volatility, with wild swings on deeply discounted stocks tempered by ongoing trade concerns. The European markets were up and the U.S. bourses were down and the Asian markets figure to follow the latter lead.

The Nikkei finished sharply higher on Tuesday, with bargain hunting among the financials, technology stocks and automobile producers.

For the day, the index surged 1,876.00 points or 6.03 percent to finish at 33,012.58 after trading between 31,703.69 and 33,257.16.

Among the actives, Nissan Motor accelerated 8.17 percent, while Mazda Motor soared 8.87 percent, Toyota Motor spiked 7.15 percent, Honda Motor rallied 6.56 percent, Softbank Group skyrocketed 12.12 percent, Mitsubishi UFJ Financial surged 10.87 percent, Mizuho Financial exploded 13.50 percent, Sumitomo Mitsui Financial jumped 10.89 percent, Mitsubishi Electric strengthened 8,75 percent, Sony Group climbed 6.95 percent, Panasonic Holdings advanced 3.73 percent and Hitachi gained 14.05 percent.

The lead from Wall Street suggests further consolidation as the major averages opened in the green on Tuesday but faded as the day progressed, ending firmly under water.

The Dow stumbled 320.01 points or 0.84 percent to finish at 37,645.69, while the NASDAQ plunged 335.35 points or 2.15 percent to close at 15,267.91 and the S&P 500 dropped 79.48 points or 1.57 percent to end at 4,982.77.

The early rally on Wall Street partly reflected optimism about negotiations on President Donald Trump's new tariffs that could help avoid a global trade war.

Buying waned over the course of the session, however, as tensions over tariffs continue to rise between the U.S. and China.

After showing a strong move to the upside early in the session, the price of crude oil once again came under pressure over the course of the trading day on Tuesday. West Texas Intermediate for May delivery tumbled $1.12 or 1.9 percent to $59.58 a barrel, its lowest level since April 2021.