Japan Bourse May Extend Friday's Gains

(RTTNews) - The Japanese stock market has alternated between positive and negative finishes through the last four trading days since the end of the three-day winning streak in which it had gained more than 5,350 points or 8 percent. Now at a fresh record closing high, the Nikkei 225 sits just shy of the 66,330-point plateau and it may add to its winnings on Monday.

The global forecast for the Asian markets is cautiously optimistic on easing oil prices and hopes for an end to the U.S.-Iran conflict. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.

The Nikkei finished sharply higher on Friday following gains from the financial shares, technology stocks and automobile producers.

For the day, the index spiked 1,636.40 points or 2.53 percent to finish at 66,329.50 after trading between 65,133.97 and 66,505.02. Among the actives, Nissan Motor shed 0.55 percent, while Mazda Motor accelerated 1.73 percent, Toyota Motor rose 0.40 percent, Honda Motor improved 0.76 percent, Softbank Group soared 5.14 percent, Mitsubishi UFJ Financial collected 0.57 percent, Mizuho Financial jumped 1.84 percent, Sumitomo Mitsui Financial lost 0.51 percent, Mitsubishi Electric perked 0.02 percent, Sony Group dipped 0.20 percent, Panasonic Holdings rallied 4.40 percent and Hitachi eased 0.15 percent.

The lead from Wall Street is mildly positive as the major averages opened higher on Friday and remained largely in the green throughout the trading day, ending at fresh record closing highs.

The Dow jumped 363.46 points or 0.72 percent to finish at 51,032.46, while the NASDAQ added 55.12 points or 0.20 percent to end at 26,972.62 and the S&P 500 rose 16.43 points or 0.22 percent to end at 7,580.06.

For the holiday-shortened week, the NASDAQ surged 2.4 percent, the S&P 500 jumped 1.4 percent and the Dow advanced 0.9 percent.

The higher close on Wall Street came as traders generally remain optimistic about a U.S.-Iran deal but seemed to be waiting for more concrete developments before making more significant moves. Recent reports have suggested the U.S. and Iran have agreed to a framework for a 60-day extension of the ceasefire.

Positive sentiment may have been generated in reaction a sharp increase by shares of Dell Technologies (DELL), which skyrocketed after the company reported better than expected fiscal Q1 results and raised its full-year guidance.

Crude oil prices tumbled Friday on expectations of the U.S. and Iran signing an agreement, which would allow for the immediate reopening of the Strait of Hormuz and pave the way for the resumption of oil and energy trade. West Texas Intermediate crude for July delivery was down $1.65 or 1.86 percent at $87.25 per barrel.