Japanese Market Notably Higher

(RTTNews) - The Japanese stock market is trading notably higher on Wednesday, reversing the losses in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 43,650 level, with gains in technology stocks partially offset by weakness in automakers, exporters and financial stocks.

The benchmark Nikkei 225 Index is up 212.22 or 0.49 percent at 43,671.51, after touching a high of 43,733.69 earlier. Japanese stocks ended modestly lower on Tuesday.

Market heavyweight SoftBank Group is surging almost 6 percent, while Uniqlo operator Fast Retailing is losing almost 1 percent. Among automakers, Honda is down more than 1 percent and Toyota is also losing more than 1 percent.

In the tech space, Advantest is gaining almost 3 percent, Tokyo Electron is edging up 0.4 percent and Screen Holdings is adding almost 2 percent.

In the banking sector, Sumitomo Mitsui Financial is slipping more than 1 percent, Mitsubishi UFJ Financial is declining almost 2 percent and Mizuho Financial is losing almost 1 percent.

Among the major exporters, Canon, Mitsubishi Electric and Panasonic are edging down 0.1 to 0.2 percent each, while Sony is gaining almost 1 percent. Among other major gainers, Fujikura is gaining more than 4 percent and Konami Group is advancing more than 3 percent, while Mitsui Mining & Smelting, Furukawa Electric and Fujitsu are adding almost 3 percent each.

Conversely, there are no other major losers.

In the currency market, the U.S. dollar is trading in the mid-147 yen-range on Wednesday.

On the Wall Street, stocks moved mostly higher over the course of the trading day on Tuesday after showing a lack of direction early in the session. The major averages added to the gains posted during Monday's session, reaching new record closing highs.

The major averages pulled back off their highs going into the close but remained in positive territory. The Dow increased 196.39 points or 0.4 percent to 45,711.34, the Nasdaq climbed 80.79 points or 0.4 percent to 21,879.49 and the S&P 500 rose 17.46 points or 0.3 percent to 6,512.61.

Meanwhile, the major European markets ended the day mixed. While the German DAX Index declined by 0.4 percent, the U.K.'s FTSE 100 Index and the French CAC 40 Index both crept up by 0.2 percent.

Crude oil prices advanced on Tuesday, extending gains for the second day amid increasing expectations of western sanctions against Russia, while the Israeli attack on Qatar added support to oil prices. West Texas Intermediate crude for October delivery was up $0.29 or 0.47 percent at $62.55 per barrel.