The Japanese stock market is significantly higher on Wednesday, extending the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 index moved well above the 33,600 level, with gains across most sectors, led by index heavyweights and technology stocks.
The benchmark Nikkei 225 Index is up 377.10 or 1.13 percent at 33,682.95, after touching a high of 33,755.75 earlier. Japanese stocks ended modestly higher on Tuesday.
Market heavyweight SoftBank Group is surging almost 5 percent and Uniqlo operator Fast Retailing is adding more than 1 percent. Among automakers, Honda is gaining almost 1 percent and Toyota is adding more than 1 percent.
In the tech space, Advantest is gaining more than 1 percent, Tokyo Electron is adding almost 2 percent and Screen Holdings is advancing almost 1 percent.
In the banking sector, Mizuho Financial and Sumitomo Mitsui Financial are gaining almost 1 percent each, while Mitsubishi UFJ Financial is edging up 0.3 percent.
Among the major exporters, Sony is gaining more than 1 percent and Canon is edging up 0.5 percent, while Panasonic and Mitsubishi Electric are adding almost 1 percent each.
Among other major gainers, Kawasaki Kisen Kaisha is gaining more than 4 percent, while Mitsui O.S.K. Lines and Sumitomo Pharma are adding more than 3 percent each. Nippon Yusen K.K., CyberAgent, Taiyo Yuden, Kobe Steel and Murata Manufacturing are advancing almost 3 percent each.
Conversely, there no other major losers
In the currency market, the U.S. dollar is trading in the higher 142 yen-range on Wednesday.
On the Wall Street, stocks moved mostly higher during trading on Tuesday, with the major averages all moving to the upside after ending last Friday’s session narrowly mixed. The advance on the day represents a positive start to the final trading week of 2023.
The major averages pulled back off their best levels going into the close but remained in positive territory. The Dow rose 159.36 points or 0.4 percent to 37,545.33, the Nasdaq advanced 81.60 points or 0.5 percent to 15,074.57 and the S&P 500 climbed 20.12 points or 0.4 percent to 4,774.75.
Meanwhile, the major European markets remained closed on the day in observance of Boxing Day.
Crude oil prices surged higher Tuesday amid escalating tensions in the Middle East and concerns over trade disruptions following attacks on ships. West Texas Intermediate Crude oil futures for February jumped $2.01 or 2.7 percent at $75.57 a barrel.
Market Analysis
Japanese Market Significantly Higher
2023-12-27 02:34:42
