Japan Bourse May Hand Back Friday's Gains

(RTTNews) - The Japanese stock market has tracked higher in two of three trading days since the end of the four-day losing streak in which it had tumbled more than 2,675 points or 5.1 percent. The Nikkei 225 now sits just above the 53,120-point plateau and it's looking at a soft start on Monday.

The global forecast for the Asian markets is lean on catalysts as many of the markets around the world were closed for Good Friday. Stubbornly high oil prices and continued conflict in the Middle East deal the Asian markets a soft lead for Monday.

The Nikkei finished sharply higher on Friday following gains from the financial shares and mixed performances from the automobile producers and technology companies.

For the day, the index jumped 660.22 points or 1.26 percent to finish at 53,123.49 after trading between 52,925.10 and 53,426.31. Among the actives, Nissan Motor accelerated 2.75 percent, while Mazda Motor slumped 1.00 percent, Toyota Motor lost 0.21 percent, Honda Motor shed 0.31 percent, Softbank Group rose 0.14 percent, Mitsubishi UFJ Financial perked 0.05 percent, Mizuho Financial collected 0.68 percent, Sumitomo Mitsui Financial fell 0.28 percent, Mitsubishi Electric rallied 2.89 percent, Sony Group eased 0.15 percent, Panasonic Holdings skidded 1.02 percent and Hitachi spiked 2.91 percent.

There is no lead from Wall Street as the markets were shuttered for Good Friday.

Tensions remain high as the conflict in the Middle East wraps up its fifth week, with no end in sight. Reports of a U.S. jet downed in Iranian territory have compounded the chaos in the region.

The resulting surge in crude oil prices continues, with the commodity over $112 per barrel at last report as Iran maintains control of the Strait of Hormuz.

Limiting the downside, the Labor Department said on Friday that employment in the U.S. jumped more than expected in March, while the jobless rate eased to 4.3 percent from 4.4 percent.