Win Streak May End For Japan Stock Market

(RTTNews) - The Japan stock market has moved higher in three consecutive sessions, advancing more than 760 points or 1.9 percent along the way. The Nikkei 225 now sits just shy of the 41,060-point plateau although it may spin its wheels on Friday.

The global forecast for the Asian markets is murky, clouded by conflicting reports on U.S. tariffs. The European and U.S. markets were mixed and the Asian bourses figure to tick lower on profit taking.

The Nikkei finished modestly higher on Thursday as gains from the financial shares and technology stocks were capped by weakness from the automobile producers.

For the day, the index jumped 264.29 points or 0.65 percent to finish at 41,059.15 after trading between 40,668.19 and 41,164.11.

Among the actives, Nissan Motor stumbled 2.03 percent, while Mazda Motor tanked 2.71 percent, Toyota Motor retreated 1.51 percent, Honda Motor slumped 1.65 percent, Softbank Group improved 1.33 percent, Mitsubishi UFJ Financial jumped 1.85 percent, Mizuho Financial climbed 1.05 percent, Sumitomo Mitsui Financial and Hitachi both collected 1.35 percent, Mitsubishi Electric rallied 1.29 percent, Sony Group surged 4.13 percent and Panasonic Holdings dipped 0.17 percent.

The lead from Wall Street offers little clarity as the major averages opened higher but quickly slumped and then spent the day hugging the line, ending little changed and on opposite sides.

The Dow stumbled 224.48 points or 0.51 percent to finish at 43,968.64, while the NASDAQ gained 73.27 points or 0.35 percent to close at 21,242.70 and the S&P 500 fell 5.06 points or 0.08 percent to end at 6,340.00.

The early strength on Wall Street came after President Donald Trump announced a 100 percent tariff on imports of semiconductors and chips but said companies that are building in the United States would be exempt.

Buying interest waned over the course of the session, however, as traders continued to express concerns about the economic impact of Trump's trade policies as new tariffs on dozens of countries took effect on Thursday.

In U.S. economic news, the Labor Department said first-time claims for U.S. unemployment benefits rose more than expected last week. Also, the Labor Department noted a significant rebound by labor productivity in the second quarter.

Crude oil prices fell Thursday on inconsistency in the U.S. stance on Russia and it's invasion on Ukraine. West Texas Intermediate crude for September delivery was down $0.49 or 0.76 percent at $63.86 per barrel.

Closer to home, Japan will release a batch of data today, including June figures for household spending and current account and July numbers for bank lending and the eco watchers survey.

Household spending is expected to fall 3.0 percent on month and rise 2.8 percent on year after adding 4.6 percent on month and 4.7 percent on year in May. The current account is tipped to show a surplus of 2.76 trillion yen, down from 2.82 trillion yen in the previous month.

Overall bank lending is expected to rise 2.7 percent on year, down from 2.8 percent in June. The eco watchers survey for current conditions is tipped to show a score of 45.5, up from 45.0 a month earlier.