Mild Upside Seen For Japan Stock Market

RTTNews | 41 days ago
Mild Upside Seen For Japan Stock Market

(RTTNews) - The Japan stock market bounced higher again on Thursday, one day after ending the three-day winning streak in which it had collected almost 750 points or 2 percent. The Nikkei 225 now sits just above the 38,430-point plateau and it may open to the upside again on Friday.

The global forecast for the Asian markets is mixed, with tariff concerns continuing to linger. The European markets were down and the U.S. bourses were up and the Asian markets figure to split the difference.

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

For the day, the index rallied 710.58 points or 1.88 percent to finish at 38,432.98 after trading between 38,035.32 and 38,454.07.

Among the actives, Nissan Motor accelerated 5.95 percent, while Mazda Motor spiked 3.28 percent, Toyota Motor soared 3.91 percent, Honda Motor surged 4.62 percent, Softbank Group improved 1.38 percent, Mitsubishi UFJ Financial jumped 2.14 percent, Mizuho Financial collected 0.65 percent, Sumitomo Mitsui Financial strengthened 1.54 percent, Mitsubishi Electric increased 1.48 percent, Sony Group rallied 3.90 percent, Panasonic Holdings gained 4.01 percent and Hitachi advanced 2.85 percent.

The lead from Wall Street is positive as the major averages opened higher on Thursday, faded midday but bounced higher into the close.

The Dow climbed 117.03 points or 0.28 percent to finish at 42,215.73, while the NASDAQ added 74.93 points or 0.39 percent to close at 19,175.87 and the S&P 500 rose 23.62 points or 0.40 percent to end at 5,912.17.

Early buying interest was generated in reaction to news that a federal court blocked President Donald Trump's reciprocal tariffs on imports from U.S. trade partners from going into effect.

But the Trump administration immediately appealed the decision, and an appeals court temporarily paused the lower court's ruling later in the day.

A positive reaction to earnings news from Nvidia (NVDA) also contributed to initial strength on Wall Street after the company reported fiscal first quarter results that exceeded analyst estimates on both the top and bottom lines.

Crude oil futures moved sharply lower Thursday amid lingering supply concerns amid the possibility OPEC may accelerate oil production hikes in July. West Texas Intermediate crude for July delivery tumbled $0.90 or 1.5 percent to $60.94 a barrel.

Closer to home, Japan is scheduled to release a batch of data today, including April numbers for unemployment, industrial production retail sales, construction orders and housing starts, plus May figures for Tokyo inflation.

The jobless rate (2.5 percent) and the jobs/applicant ratio (1.26) are both expected to hold steady. Industrial production is expected to slip 1.4 percent on month after rising 0.2 percent in March. Retail sales are seen higher by 2.9 percent on year, easing from 3.1 percent in the previous month.

Construction orders are expected to fall 0.5 percent on year after adding 3.5 percent in March. Construction orders are tipped to tumble 18.2 percent after surging 39.1 percent a month earlier. In April, Tokyo overall inflation was up 3.5 percent on year and core CPI rose 3.4 percent.

read more
Bank Of Korea Keeps Rates Steady

Bank Of Korea Keeps Rates Steady

The Bank of Korea maintained its interest rate on Thursday as rising house prices and household debt pose risks to the financial stability amid escalating trade tensions weighing on economic growth outlook. The Monetary Policy Board decided to leave the Base Rate unchanged at 2.50 percent. The bank had previously reduced the benchmark rate by a quarter-point each in May and February.
RTTNews | 41 minutes ago
European Shares Set To Open Higher Despite Rising Trade Tensions

European Shares Set To Open Higher Despite Rising Trade Tensions

European stocks may open mostly higher on Thursday despite U.S. President Donald Trump escalating his tariff campaign, sending letters to six additional countries—Algeria, Iraq, Libya, Brunei, Moldova, and the Philippines—with fresh import duties ranging from 20-30 percent.
RTTNews | 1h 37min ago
European Economic News Preview: Germany Final Inflation Data Due

European Economic News Preview: Germany Final Inflation Data Due

Final inflation from Germany and industrial output from Italy are the top economic news due on Thursday. At 2.00 am ET, Destatis is scheduled to release Germany's final inflation data for June. Flash inflation showed that consumer price inflation eased to 2.0 percent from 2.1 percent in May.
RTTNews | 1h 58min ago
Sensex, Nifty Subdued On Trade Jitters

Sensex, Nifty Subdued On Trade Jitters

Indian shares were subdued on Thursday as U.S. President Donald Trump escalated his tariff campaign, sending letters targeting six additional countries—Algeria, Iraq, Libya, Brunei, Moldova, and the Philippines—with fresh import duties ranging from 20-30 percent.
RTTNews | 2h 50min ago
Australian Market Extends Early Gains In Mid-market

Australian Market Extends Early Gains In Mid-market

The Australian market is extending early gains in mid-market moves on Thursday, reversing the losses in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,600 level, with gains across all sectors led by technology and mining stocks.
RTTNews | 3h 47min ago
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, as traders are optimistic about an end to the tariff uncertainty after US President Donald Trump made it clear that he will not extend the August 1 deadline for trade deals, though he gets aggressive with tariff imposition.
RTTNews | 3h 52min ago
Sensex, Nifty Set For Muted Open

Sensex, Nifty Set For Muted Open

Indian shares look set to open on a flat note Thursday as investors watch the latest developments on the trade front, react to the latest FOMC meeting minutes and look for direction from Q1 business updates from prominent companies.
RTTNews | 4h 39min ago
Indonesia Stock Market May Extend Winning Streak

Indonesia Stock Market May Extend Winning Streak

The Indonesia stock market has moved higher in three straight sessions, gathering almost 80 points or 1.2 percent along the way. The Jakarta Composite Index now sits just above the 6,940-point plateau and it may add to its winnings again on Thursday.
RTTNews | 5h 39min ago