Japanese Market Sharply Higher

RTTNews | 617 days ago
Japanese Market Sharply Higher

(RTTNews) - The Japanese stock market is sharply higher on Wednesday, adding to the gains in the previous session, following the broadly positive cues from global markets overnight. The Nikkei 225 moved above the 31,400 level, with gains across most sectors, led by index heavyweights, financial and technology stocks. The yen also declined sharply.

The benchmark Nikkei 225 Index is up 568.90 or 1.84 percent at 31,410.31, after touching a high of 31,559.05 earlier. Japanese stocks ended notably higher on Tuesday.

Market heavyweight SoftBank Group is gaining more than 1 percent and Uniqlo operator Fast Retailing is adding 1.5 percent. Among automakers, Honda is gaining more than 2 percent and Toyota is advancing almost 5 percent.

In the tech space, Advantest is slipping more than 6 percent, while Tokyo Electron is adding more than 2 percent and Screen Holdings is surging more than 7 percent.

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

Among the major exporters, Panasonic is gaining almost 3 percent, Canon is adding almost 2 percent, Sony is advancing more than 3 percent and Mitsubishi Electric is soaring more than 12 percent.

Among other major gainers, NTN and Daiwa Securities are soaring more than 10 percent each, while Murata Manufacturing and Mitsubishi Logistics are surging more than 7 percent each. Lasertec and Taiyo Yuden are advancing almost 7 percent each, while Denso and Subaru are gaining more than 6 percent each. Toyota Tsusho is up almost 6 percent, while West Japan Railway and Nissan Motor are adding more than 5 percent each. Fanuc and Hoya are rising almost 5 percent each.

Conversely, Sumitomo Pharma is slipping more than 6 percent, while Nichirei and NSK are losing more than 3 percent each. OKUMA and NH Foods are declining almost 3 percent each.

In economic news, the manufacturing sector in Japan continued to contract in October, albeit at a slower pace, the latest survey from Jibun Bank revealed on Wednesday with a manufacturing PMI score of 48.7. That's up from 48.5, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

In the currency market, the U.S. dollar is trading in the lower 151 yen-range on Wednesday.

On the Wall Street, stocks moved mostly higher over the course of the trading session on Tuesday after recovering from an initial move to the downside. The major averages climbed well off their early lows and firmly into positive territory.

The major averages finished the day near their best levels of the session. The Dow rose 123.91 points or 0.4 percent to 33,052.87, the Nasdaq climbed 61.76 points or 0.5 percent to 12,851.24 and the S&P 500 advanced 26.98 points or 0.7 percent to 4,193.80.

The major European markets also moved to the upside on the day. The French CAC 40 Index advanced by 0.9 percent and the German DAX Index climbed by 0.6 percent, although the U.K.'s FTSE 100 Index bucked the uptrend and edge down by 0.1 percent.

Crude oil prices dropped on Tuesday, and posted a monthly loss as well, as concerns about the outlook for energy demand and a stronger dollar weighed on the commodity. West Texas Intermediate crude oil futures for December fell $1.29 or 1.6 percent at 81.02 a barrel, the lowest settlement in two months. WTI crude futures shed nearly 11 percent in October.

read more
Swiss Market Ends On Firm Note

Swiss Market Ends On Firm Note

Swiss stocks turned in a fine performance on Thursday, in line with most of the markets across Europe, amid optimism about a U.S.-EU trade deal materialising sometime soon.
RTTNews | 36 minutes ago
European Stocks Close Broadly Higher On Trade Deal Hopes

European Stocks Close Broadly Higher On Trade Deal Hopes

European stocks closed on a positive note on Thursday with the undertone remaining firm amid expectations the European Union and the U.S. will strike a trade deal soon. Investors also looked ahead to the earnings season that is set to start next week.
RTTNews | 55 minutes ago
Canadian Market Modestly Higher At Noon

Canadian Market Modestly Higher At Noon

After a flat start and a subsequent drop into negative territory, the Canadian market climbed higher Thursday morning and remained firmly well placed in positive territory at noon. The mood remains somewhat cautious amid concerns about tariffs following U.S. President Donald Trump confirming a 50% levy on copper imports, and hinting at additional tariffs on semiconductors and pharmaceuticals.
RTTNews | 2h 16min ago
U.S. Jobless Claims Unexpectedly Slip To 227,000

U.S. Jobless Claims Unexpectedly Slip To 227,000

First-time claims for U.S. unemployment benefits unexpectedly edged modestly lower in the week ended July 5th, according to a report released by the Labor Department on Thursday.
RTTNews | 4h 33min ago
U.S. Weekly Jobless Claims Unexpectedly Edge Lower

U.S. Weekly Jobless Claims Unexpectedly Edge Lower

First-time claims for U.S. unemployment benefits unexpectedly edged modestly lower in the week ended July 5th, according to a report released by the Labor Department on Thursday.
RTTNews | 5h 46min ago
Bay Street Seen Opening On Mixed Note

Bay Street Seen Opening On Mixed Note

Canadian shares may open on a slightly mixed note on Thursday tracking the trend in the commodity markets, and somewhat firm European stocks. The focus, once again, will be on trade negotiations between the U.S. and several other major nations.
RTTNews | 5h 48min ago
FTSE 100 Rises To Record High As Mining Stocks Rally

FTSE 100 Rises To Record High As Mining Stocks Rally

The UK stock market climbed to a new record high Thursday morning, lifted by strong gains in the mining sector. The undertone in major European markets is quite firm today amid optimism about a potential trade deal between the U.S. and the European Union.
RTTNews | 6h 58min ago
CAC 40 Moderately Higher On Trade Deal Hopes

CAC 40 Moderately Higher On Trade Deal Hopes

French stocks are gaining some ground in positive territory on Thursday amid rising hopes the European Union will strike a trade deal with the U.S. sometime soon.
RTTNews | 7h 32min ago