Japanese Market Is Notably Higher

(RTTNews) - Rebounding from the losses in the previous five sessions, the Japanese stock market is notably higher on Tuesday, snapping a five-session winning streak, with the Nikkei 225 moving up to be a tad below the 36,400 level, following the broadly positive cues from global markets overnight, with gains across all the sectors led by index heavyweights and technology stocks.

The benchmark Nikkei 225 Index is up 182.73 points or 0.50 percent at 36,398.48, after touching a high of 36,537.03 earlier. Japanese shares ended significantly lower on Monday.

Market heavyweight SoftBank Group is gaining more than 2 percent and Uniqlo operator Fast Retailing is flat. Among automakers, Honda is edging down 0.1percent and Toyota is gaining more than 1 percent.

In the tech space, Advantest and are gaining more than 1 percent each, Screen Holdings is advancing more than 3 percent and Tokyo Electron is adding almost 4 percent.

In the banking sector, Mitsubishi UFJ Financial and Mizuho Financial are gaining more than 2 percent each, while Sumitomo Mitsui Financial is adding almost 3 percent.

The major exporters are mostly higher. Canon is adding almost 1 percent and Sony is gaining more than 2 percent, while Mitsubishi Electric is losing almost 1 percent. Panasonic is flat.

Among the other major gainers, Socionext and Ebara are gaining more than 3 percent each, while Konami Group, Credit Saison, Furukawa Electric, Keisei Electric Railway, Fujikura, Mitsui Mining & Smelting and Sumitomo Mitsui Trust are adding almost 3 percent each.

Conversely, Daiichi Sankyo is plunging almost 8 percent.

In the currency market, the U.S. dollar is trading in the lower 143 yen-range on Tuesday.

On Wall Street, stocks showed a strong move back to the upside during trading on Monday following the sell-off seen in the previous week. The major averages all moved sharply higher over the course of the session.

The major averages pulled back off their highs of the session in afternoon trading but remained firmly positive. The Dow surged 484.18 points or 1.2 percent to 40,829.59, the Nasdaq jumped 193.77 points or 1.2 percent to 16,884.60 and the S&P 500 shot up 62.63 points or 1.2 percent to 5,471.05.

The major European markets also moved to the upside on the day. While the U.K.'s FTSE 100 Index shot up by 1.1 percent, the French CAC 40 Index jumped by 1.0 percent and the German DAX Index advanced by 0.8 percent.

Crude oil prices climbed higher Monday on the possibility of weather-related production issues in the the Gulf of Mexico, and on OPEC's decision to delay a production boost originally scheduled to begin in October. West Texas Intermediate Crude oil futures for October ended up by $1.04 or 1.54 percent at $68.71 a barrel.