The Japanese stock market is notably higher on Tuesday, recouping the losses in the previous session, with the benchmark Nikkei index above the 29,200 level, following the mixed cues from Wall Street overnight, as the nation prepares to open up to boost economic activity, even as the prospects of another wave of coronavirus infections looms.
The benchmark Nikkei 225 Index is gaining 195.08 points or 0.67 percent to 29,220.54, after touching a high of 29,246.81 earlier. Japanese shares closed slightly lower on Monday.
Market heavyweight SoftBank Group and Uniqlo operator Fast Retailing are gaining more than 1 percent each. Among automakers, Honda is losing almost 1 percent and Toyota is down more than 1 percent.
In the tech space, Advantest and Tokyo Electron are gaining more than 2 percent each, while Screen Holdings is up almost 1 percent. In the banking sector, Mitsubishi UFJ Financial and Sumitomo Mitsui Financial are losing almost 1 percent each, while Mizuho Financial down more than 1 percent.
The major exporters are mixed. Mitsubishi Electric and Panasonic are edging down 0.3 percent each, while Sony is edging up 0.2 percent. Canon is flat.
Among the other major gainers, Rakuten Group is gaining almost 5 percent and Kawasaki Kisen Kaisha is adding more than 4 percent, while Nippon Yusen K.K. and Toyota Tsusho are rising more than 3 percent each. Nintendo, Japan Steel Works, Kikkoman, CyberAgent, Mitsui O.S.K. Lines and BANDAI NAMCO are all up more than 2 percent each.
Conversely, Credit Saison is losing more than 4 percent, Inpex is down almost 4 percent and Taiyo Yuden is lower by more than 3 percent, while Takashimaya, Tokyo Electric Power and J. Front Retailing are down almost 3 percent each.
In the currency market, the U.S. dollar is trading in the lower 114 yen-range on Tuesday.
On Wall Street, stocks turned in a mixed performance during trading on Monday after moving notably higher last week. The Dow edged modestly lower, while the broader Nasdaq and S&P 500 moved to the upside.
The Dow climbed well off its worst levels of the day but still ended the day down 36.15 points or 0.1 percent at 35,258.61. Meanwhile, the Nasdaq advanced 124.47 points or 0.8 percent to 15,021.81 and the S&P 500 rose 15.09 points or 0.3 percent to 4,486.46.
Meanwhile, the major European markets moved to the downside on the day. While the U.K.’s FTSE 100 Index fell by 0.4 percent, the German DAX Index and the French CAC 40 Index slid by 0.7 percent and 0.8 percent, respectively.
Crude oil futures settled higher on Monday, extending recent gains amid expectations global energy demand will continue to rise following several countries easing travel restrictions. West Texas Intermediate Crude oil futures for November ended up by $0.16 or 0.2 percent at $82.44 a barrel.
Market Analysis
Japanese Market Notably Higher
2021-10-19 02:28:56
