Japanese Market Significantly Higher

(RTTNews) - Recouping the losses in the previous two sessions, the Japanese stock market is significantly higher on Thursday, despite the broadly negative cues from global markets overnight. The Nikkei 225 is moving well above the 38,800 level, with gains across most sectors led by index heavyweights and technology stocks.

The benchmark Nikkei 225 Index is up 250.62 points or 0.65 percent to 38,867.72, after touching a high of 38,938.67 earlier. Japanese shares ended significantly lower on Wednesday.

Market heavyweight SoftBank Group is gaining more than 3 percent and Uniqlo operator Fast Retailing is edging up 0.5 percent. Among automakers, Toyota is edging up 0.1 percent and Honda is also edging up 0.4 percent.

In the tech space, Advantest is gaining almost 4 percent, Tokyo Electron is adding 1.5 percent and Screen Holdings is advancing almost 2 percent.

In the banking sector, Sumitomo Mitsui Financial is losing almost 1 percent, while Mizuho Financial and Mitsubishi UFJ Financial are edging up 0.1 percent each.

Among the major exporters, Canon and Mitsubishi Electric are gaining almost 2 percent each, while Sony is adding almost 1 percent and Panasonic is up more than 1 percent.

Among other major gainers, Teijin is soaring 7.5 percent and Disco is surging almost 6 percent, while Yamato Holdings, Socionext and Renesas Electronics are gaining almost 4 percent each. Astellas Pharma, NTT Data and Sumco are adding almost 3 percent each.

Conversely, Sumitomo Metal Mining is losing almost 4 percent, while Dowa Holdings, NEXON and Mitsubishi Materials are declining more than 3 percent each. Sumitomo Realty & Development is down almost 3 percent.

In the currency market, the U.S. dollar is trading in the higher 156 yen-range on Thursday.

On Wall Street, stocks showed a lack of direction throughout much of the trading session on Wednesday before coming under pressure following the release of the minutes of the Federal Reserve's latest monetary policy meeting.

The major averages climbed off their worst levels going into the close but ended the day in the red after ending Tuesday's choppy trading session modestly higher. The Dow slid 201.95 points or 0.5 percent to 39,671.04, the S&P 500 fell 14.40 points or 0.3 percent to 5,307.01 and the Nasdaq dipped 31.08 points or 0.2 percent at 16,801.54.

The major European markets also moved to the downside on the day. While the German DAX Index dipped by 0.3 percent, the French CAC 40 Index and the U.K.'s FTSE 100 Index both fell by 0.6 percent.

Crude oil prices fell to a two-month low on Wednesday after data showed an unexpected rebound in crude oil inventories in the U.S. last week. West Texas Intermediate crude oil futures for July ended down by $1.09 or 1.4 percent at $77.57 a barrel.