Sharp rise in the Japanese market | Nasdaq
(RTTNews) – The Japanese stock market rose sharply on Monday, extending gains in the previous session, with the Nikkei 225 index moving above the 27,200 level, following broadly positive signs from Wall Street on Friday, with technology shares rising, mirrored by their stock market peers. Nasdaq high tech. Sluggish inflation data from the US also lifted sentiment. The Nikkei 225 index rose 470.98 points, or 1.76 percent, to 27,252.66, after touching the highest level at 27,298.40 earlier. Japanese stocks closed significantly higher on Friday.
Market heavyweight SoftBank Group is up 0.3 per cent and Fast Retailing operator Uniqlo is adding more than 3 per cent. Among the automakers, Honda and Toyota earn nearly 1 percent each.
In technology, Advantest and Screen Holdings each gain more than 2 percent, while Tokyo Electron is up 0.4 percent. In the banking sector, Sumitomo Mitsui Financial rose 0.4 percent and Mizuho Financial increased nearly 1 percent, while Mitsubishi UFJ Financial declined 0.2 percent.
The share of the two major exporters is up, with Panasonic and Mitsubishi Electric adding nearly 2 percent each, while Sony is gaining nearly 4 percent and Canon is increasing by 0.4 percent. Among the other major gainers, Recruit Holdings and Daikin Industries rose more than 6 percent each, while Keyence, Omron and Yaskawa Electric gained more than 4 percent each. Japan Exchange Group, Showa Denko KK, Taiyo Yuden, Fanuc and CyberAgent rose nearly 4 percent each, while Kubota, Ebara and Denso added more than 3 percent each.
Conversely, Kawasaki Kisen Kaisha lost more than 4 percent, while Mitsui OSK Lines and Nippon Yusen KK were down 4 percent each.
In the currency market, the US dollar is trading in a range of 127 yen on Monday.
On Wall Street, stocks rose sharply during trading on Friday, extending the strong upward movement seen on Tuesday and Wednesday. The major averages continued to recover after hitting their lowest levels in more than a year in recent sessions.
The major averages saw more upside as the close approached, ending the session at its best levels of the day. The Dow Jones rose 575.77 points, or 1.8 percent, to 33,212.96, the Nasdaq increased 390.48 points, or 3.3 percent, to 12,131.13, and the Standard & Poor’s 500 rose 100.40 points, or 2.5 percent, to 4158.24.
The major European markets also moved to the upside today. While the UK’s FTSE 100 rose 0.3 percent, Germany’s DAX and France’s CAC 40 both jumped 1.6 percent.
Crude oil prices rose on Friday amid rising hopes for increased fuel demand during the summer season, and a possible European Union embargo on Russian oil. West Texas Intermediate crude futures for July closed up $0.98, or 0.9 percent, at $115.07 a barrel.
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