Japanese Market Modestly Higher

RTTNews | 724 days ago
Japanese Market Modestly Higher

(RTTNews) - The Japanese stock market is modestly higher on Tuesday, recouping some of the losses in the previous session, with the Nikkei 225 moving above the 32,400 level, following the broadly positive cues from Wall Street overnight and boosted by with gains in exporters and financial stocks. The benchmark Nikkei 225 Index is up 66.02 points or 0.20 percent at 32,457.28, after touching a high of 32,714.59 earlier. Japanese shares ended slightly lower on Friday prior to the holiday on Monday. Market heavyweight SoftBank Group is edging down 0.1 percent and Uniqlo operator Fast Retailing is edging down 0.4 percent. Among automakers, Honda is flat and Toyota is gaining almost 1 percent.

In the tech space, Advantest is edging up 0.4 percent and Tokyo Electron is adding almost 2 percent, while Screen Holdings is losing almost 1 percent.

In the banking sector, Sumitomo Mitsui Financial and Mizuho Financial are gaining almost 2 percent each, while Mitsubishi UFJ Financial is adding more than 2 percent.

The major exporters are mixed. Mitsubishi Electric and Canon are gaining almost 1 percent each, while Panasonic and Sony are adding almost 2 percent each. Among the other major gainers, Renesas Electronics, Resona Holdings and OKUMA are up almost 3 percent each.

Conversely, Rakuten Group is plunging more than 7 percent and CyberAgent is losing almost 3 percent.

In the currency market, the U.S. dollar is trading in the higher 138 yen-range on Tuesday.

On the Wall Street, stocks saw some further upside during trading on Monday following the strong upward move seen last week. With the continued advance, the Nasdaq and the S&P 500 once again reached their best closing levels in over a year.

The major averages pulled back off their best levels going into the close but remained in positive territory. The Nasdaq jumped 131.25 points or 0.9 percent to 14,244.95, the S&P 500 climbed 17.37 points or 0.4 percent to 4,522.79 and the Dow rose 76.32 points or 0.2 percent to 34,585.35.

Meanwhile, the major European markets moved to the downside on the day. While the French CAC 40 Index tumbled 1.1 percent, the U.K.'s FTSE 100 Index declined by 0.4 percent and the German DAX Index dipped by 0.2 percent.

Crude oil futures fell on Monday amid concerns about the outlook for energy demand after data showed the Chinese economy grew at slower than expected pace in the second quarter. West Texas Intermediate Crude oil futures for August ended lower by $1.27 or 1.7 percent at $74.15 a barrel.

read more
Bay Street Likely To Open Lower

Bay Street Likely To Open Lower

Canadian shares look headed for a weak start on Friday due to trade war concerns, although fairly firm crude oil and bullion prices may help limit the market's downside. Data showing an increase in Canadian employment in the month of June and a drop in the unemployment rate may also aid sentiment a bit.
RTTNews | 2h 15min ago
Pound Falls As U.K. Economy Contracts For Second Straight Month

Pound Falls As U.K. Economy Contracts For Second Straight Month

The British pound weakened against other major currencies in the European session on Friday, as the UK economy shrank for the second consecutive month in May, adding challenges to Chancellor Rachel Reeves in achieving her self-imposed borrowing rules.
RTTNews | 2h 23min ago
Pound Falls Against Majors

Pound Falls Against Majors

The British pound weakened against other major currencies in the European session on Friday.
RTTNews | 2h 45min ago
Yen Retreats Amid US-Japan Trade Uncertainty

Yen Retreats Amid US-Japan Trade Uncertainty

The Japanese yen retreated from early highs against other major currencies in the European session on Friday, amid concerns on US-Japan relations in light of Trump's placement of a 25 percent tariff on Japanese exports this week, which will go into force on August 1.
RTTNews | 3h 34min ago
UK Economy Contracts For Second Straight Month

UK Economy Contracts For Second Straight Month

The UK economy shrank for the second consecutive month in May, adding challenges to Chancellor Rachel Reeves in meeting her self-imposed borrowing rules. Gross domestic product fell unexpectedly by 0.1 percent in May, following a 0.3 percent drop in April, data from the Office for National Statistics revealed on Friday.
RTTNews | 4h 4min ago
CAC 40 Down More Than 1% As Trade War Concerns Hurt Sentiment

CAC 40 Down More Than 1% As Trade War Concerns Hurt Sentiment

French stocks are notably lower on Friday, weighed down by losses in automobile and luxury sectors. The mood in the market is a bit bearish, in line with other major markets in Europe, amid renewed worries about tariffs.
RTTNews | 4h 12min ago