The Japanese stock market is higher on Tuesday, with the benchmark Nikkei index above the 29,300 level, following the positive cues overnight from Wall Street. Investors continue to be optimistic about the opening of the global economy as vaccination drives gather pace along with falling bond yields.
The benchmark Nikkei 225 Index is advancing 164.97 points or 0.57 percent to 29,339.12, after hitting a low of 29,253.58 earlier. Japanese shares closed sharply lower on Monday.
Market heavyweight SoftBank Group is gaining almost 1 percent and Uniqlo operator Fast Retailing is edging up 0.2 percent. Among automakers, Honda is edging down 0.3 percent, while Toyota is gaining more than 1 percent.
In the tech space, Advantest is gaining more than 1 percent and Tokyo Electron is adding more than 3 percent. In the banking sector, Sumitomo Mitsui Financial is losing more than 1 percent and Mitsubishi UFJ Financial is down almost 2 percent.
The major exporters mostly mixed, with Canon and Sony gaining more than 2 percent each, while Mitsubishi Electric is edging up 0.2 percent. Panasonic is gaining almost 2 percent.
Among the other major gainers, Nikon Japan Exchange Group, M3, Toyobo are all gaining more than 3 percent each, while Alps Alpine, Seven & I Holdings, Screen Holdings and NSK are all rising almost 3 percent each.
Conversely, Kaeasaki Kisen Kaisha is losing almost 6 percent and ANA Holdings is down almost 4 percent. Rakuten and Mitsui OSK Lines are down more than 3 percent, while Mitsui E&S Holdings is declining nearly 3 percent.
In the currency market, the U.S. dollar is trading in the higher 108 yen-range on Tuesday.
On Wall Street, stocks moved mostly higher during trading on Monday following the mixed performance seen last Friday. The major averages all moved to the upside, with the tech-heavy Nasdaq showing a particularly strong advance.
The major averages gave back some ground going into the close but remained in positive territory. The Dow rose 103.23 points or 0.3 percent to 32,731.20, the Nasdaq jumped 162.30 points or 1.2 percent to 13,377.54 and the S&P 500 climbed 27.49 points or 0.7 percent to 3,940.59.
Meanwhile, the major European markets also ended the day mixed. While the French CAC 40 Index fell by 0.5 percent, the U.K.’s FTSE 100 Index and the German DAX Index both rose by 0.5 percent.
Crude oil futures ended higher on Monday, with the West Texas Intermediate (WTI) Crude oil futures for April up $0.13 or 0.21 percent at $61.55 a barrel. WTI Crude futures for May were up by about $0.14 at $61.58 a barrel.
Market Analysis
Japanese Market Higher
2021-03-23 02:25:25
