Japanese Market Notably Higher

(RTTNews) - The Japanese market is notably higher on Thursday, extending the sharp gains in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 54,150 level, with gains across most sectors led by index heavyweights and exporter stocks.

The benchmark Nikkei 225 Index is up 411.41 points or 0.77 percent to 54,151.00, after touching a high of 54,258.48 earlier. Japanese shares ended sharply higher on Wednesday.

Market heavyweight SoftBank Group is gaining more than 3 percent and Uniqlo operator Fast Retailing is adding almost 1 percent. Among automakers, Toyota is gaining almost 2 percent, while Honda is edging down 0.4 percent.

In the tech space, Advantest is losing more than 1 percent, while Screen Holdings is gaining more than 1 percent and Tokyo Electron is edging up 0.4 percent.

In the banking sector, Mitsubishi UFJ Financial is edging up 0.3 percent, while Sumitomo Mitsui Financial and Mizuho Financial are gaining almost 1 percent each.

Among the major exporters, Mitsubishi Electric is gaining almost 2 percent and Panasonic is adding almost 1 percent, while Canon and Sony are edging up 0.1 percent each.

Among other major gainers, IHI is jumping almost 6 percent and Mitsubishi Heavy Industries is surging almost 5 percent, while Lasertec and Keio are advancing almost 4 percent each. Disco, Keisei Electric Railway, Nippon Express, JGC Holdings and Nissan Motor are gaining more than 3 percent each, while Sapporo Holdings, Chugai Pharmaceutical, Kawasaki Heavy Industries, OKUMA, Mitsubishi Motors and Sumitomo Realty & Development are adding almost 3 percent each.

Conversely, Inpex is tumbling almost 8 percent, Sumitomo Pharma is losing more than 5 percent and Tokyo Gas is down almost 3 percent.

In the currency market, the U.S. dollar is trading in the higher 158 yen-range on Thursday.

On Wall Street, stocks moved mostly higher during trading on Wednesday, adding to the substantial gains posted in the previous session. The major averages all moved to the upside, with the tech-heavy Nasdaq posting a standout gain.

The major averages gave back some ground in afternoon trading after a morning rally but remained firmly positive. The Nasdaq jumped 250.32 points or 1.2 percent to 21,840.95, the S&P 500 climbed 46.80 points or 0.7 percent to 6,575.32 and the Dow rose 224.23 points or 0.5 percent to 46,565.74.

The major European markets also showed strong moves to the upside on the day. While the German DAX Index spiked by 2.7 percent, the French CAC 40 Index surged by 2.1 percent and the U.K.'s FTSE 100 Index jump by 1.9 percent.

Crude oil prices plummeted on Wednesday after Trump's comments, even if the Strait of Hormuz remains blocked and U.S. goals are not completely met. West Texas Intermediate crude for May delivery was down $1.68 or 1.66 percent at $99.70 per barrel.