Nikkei Soars Above 38,300 as Tech and Financial Stocks Lead Broad Market Rally

Japanese stocks extend gains for the fourth session, mirroring Wall Street's surge.

The Japanese stock market traded sharply higher extending the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight, with the Nikkei 225 moving above the 38,300 level with gains across all sectors led by strong gains in technology and financial stocks. The benchmark Nikkei 225 Index is up 667.39 points (1.77%) at 38,311.65. Japanese shares ended modestly higher.

SoftBank Group gained more than 2% and Uniqlo operator Fast Retailing is added more than 1%. Among automakers, Honda is advanced almost 1% and Toyota is increased almost 4%. In the tech space, Advantest is marginally rose almost 1%, Screen Holdings surged almost 3% and Tokyo Electron is spiked almost 5%. In the banking sector, Mitsubishi UFJ Financial elevated more than 5%, Sumitomo Mitsui Financial grew almost 5% and Mizuho Financial improved almost 4%. Canon and Sony inched up more than 1% each while Mitsubishi Electric is edged up 0.4% and Panasonic is advanced almost 3%.

Among the other major gainers, Sumitomo Pharma is skyrocketed more than 12% and Yaskawa Electric is soared almost 10% while Socionext, Taiyo Yuden and Daiichi Sankyo are surged more than 7% each. Yamaha, Recruit Holdings and Fanuc gained almost 7% each while SMC is added more than 6%. Suzuki Motor and NSK rose almost 6% each while Mitsui O.S.K. Lines is up more than 5%. Kawasaki Kisen Kaisha is advanced almost 5%.

Sharp plummeted almost 12% and Keio plunged more than 8% while Obayashi and Asahi Group lost almost 4% each. Nitori Holdings, Marui Group, Kanadevia, ENEOS Holdings, Shimizu and Secom slid almost 3% each.

In the currency market, the U.S. dollar is trading in the higher 147 yen-range on Tuesday. stocks moved sharply higher. With the strong upward move, the Nasdaq and the S&P 500 reached their best closing levels in over two months. The Nasdaq soared 779.43 points (4.4%) to 18,708.34, the S&P 500 spiked 184.28 points (3.3%) to 5,844.19 and the Dow surged 1,160.72 points (2.8%) to 42,420.10.

The major European markets also moved upward. The French CAC 40 Index jumped by 1.4%, the U.K.'s FTSE 100 Index climbed 0.6% and the German DAX Index rose by 0.3%. Crude oil prices moved strong for another time, riding optimism about the outlook for demand after the U.S. and China reached their trade deal. West Texas Intermediate crude for June delivery jumped $0.93 or 1.5% to $61.95 a barrel.

Powered by Capital Market - Live News