Japanese Market Significantly Higher

(RTTNews) - The Japanese stock market is trading significantly higher on Tuesday, snapping a four-session losing streak, following the broadly positive cues from Wall Street overnight, with the Nikkei 225 moving up to near the 37,800 level, with gains across all sectors led by index heavyweights and technology stocks.

The benchmark Nikkei 225 Index is up 285.48 points or 0.76 percent at 37,784.11, after touching a high of 37,921.81 earlier. Japanese shares ended notably lower on Monday.

Market heavyweight SoftBank Group is gaining more than 1 percent and Uniqlo operator Fast Retailing is edging up 0.5 percent. Among automakers, Honda is adding almost 1 percent and Toyota is gaining almost 2 percent.

In the tech space, Advantest is gaining more than 2 percent, Screen Holdings is adding more than 1 percent and Tokyo Electron is advancing almost 2 percent.

In the banking sector, Mitsubishi UFJ Financial is advancing more than 1 percent, Sumitomo Mitsui Financial is gaining almost 2 percent and Mizuho Financial is adding more than 2 percent.

The major exporters are mostly higher. Canon is edging up 0.1 percent, Sony are gaining more than 3 percent and Mitsubishi Electric is adding more than 1 percent, while Panasonic is edging down 0.3 percent.

Among the other major gainers, SMC and Yaskawa Electric are surging more than 7 percent each, while Furukawa Electric and Fanuc are gaining almost 5 percent each. Nissan Chemical, Ebara, Mazda Motor and Taiyo Yuden are adding almost 5 percent each, while Fujikura and Socionext are rising more than 3 percent each. Lasertec, Disco, Sumitomo Electric Industries and UBE are advancing almost 3 percent each.

Conversely, Toray Industries is declining almost 3 percent.

In the currency market, the U.S. dollar is trading in the lower 145 yen-range on Tuesday.

On Wall Street, stocks came under pressure early in the session on Monday but regained ground over the course of the trading day. The major averages climbed well off their lows of the session before ending the day modestly higher.

The Dow fell more than 300 points in early trading but ended the day up 137.33 points or 0.3 percent at 42,792.07. The S&P 500 also inched up 5.22 points or 0.1 percent to 5,963.60, while the Nasdaq crept up 4.36 points or less than a tenth of a percent to 19,215.46.

The major European markets also moved to the upside over the course of the session after seeing early weakness. The German DAX Index climbed by 0.7 percent and the U.K.'s FTSE 100 Index rose by 0.2 percent, although the French CAC 40 Index closed just below the unchanged line.

Crude oil prices saw mild upside on Monday after Goldman Sachs raised its outlook for demand. West Texas Intermediate crude for June delivery rose $0.17 of 0.27 percent to $62.66 per barrel.