Japan Stock Market Tipped To Open In The Green On Thursday

(RTTNews) - The Japanese stock market has moved higher in two straight sessions, improving more than 310 points or 0.8 percent along the way. The Nikkei 225 now sits just above the 38,830-point plateau and it's expected to open to the upside again on Thursday.

The global forecast for the Asian markets is upbeat following a drop in U.S. treasury yields. The European markets were mixed and the U.S bourses were slightly higher and the Asian markets figure to split the difference.

The Nikkei finished slightly higher on Wednesday following gains from the automobile companies, weakness from the financials and a mixed picture from the technology stocks.

For the day, the index rose 33.11 points or 0.09 percent to finish at 38.831.48 after trading between 38,682.18 and 39,118.95.

Among the actives, Nissan Motor plummeted 4.87 percent, while Mazda Motor climbed 1.02 percent, Toyota Motor accelerated 3.13 percent, Honda Motor surged 8.19 percent, Softbank Group strengthened 1.53 percent, Mitsubishi UFJ Financial shed 0.59 percent, Mizuho Financial lost 0.47 percent, Sumitomo Mitsui Financial eased 0.13 percent, Mitsubishi Electric plunged 4.88 percent, Sony Group advanced 1.09 percent, Panasonic Holdings skyrocketed 13.66 percent and Hitachi gained 2.09 percent.

The lead from Wall Street is positive after the major averages opened lower on Wednesday but turned higher into the green as the day progressed, ending at session highs.

The Dow rallied 317.24 points or 0.71 percent to finish at 44,873.28, while the NASDAQ added 38.31 points or 0.19 percent to close at 19,692.33 and the S&P 500 gained 23.60 points or 0.39 percent to end at 6,061.48.

The rebound on Wall Street came amid a notable move to the downside by treasury yields, with the yield on the benchmark ten-year note slumping to its lowest closing level in well over a month.

Yields tumbled after the Treasury Department said its current auction sizes leave it well positioned to address potential changes to the fiscal outlook. Based on projected borrowing needs, the Treasury anticipates maintaining long-term securities auction sizes for at least the next several quarters.

In economic news, the Institute for Supply Management said service sector growth in the U.S. unexpectedly slowed modestly in January. Also, payroll processor ADP said private sector employment in the U.S. increased more than expected last month.

Oil prices settled sharply lower Wednesday after data showed a sharp jump in U.S. crude inventories last week. Concerns about the outlook for oil demand also weighed on prices. West Texas Intermediate Crude oil futures for March settled at $71.03 a barrel, losing $1.67 or 2.29 percent.