Japan Stock Market May Return To The Upside

(RTTNews) - Ahead of Tuesday's holiday for National Foundation Day, the Japanese stock market had bounced higher again - one session after ending the three-day winning streak in which it had climbed almost 550 points or 1.4 percent. The Nikkei 225 now sits just above the 38,780-point plateau and it may add to its winnings on Wednesday.

The global forecast for the Asian markets is murky amid concerns about interest rates and the possibility of a trade war. The European markets were up and the U.S. bourses were mixed and flat and the Asian markets may split the difference.

The Nikkei finished slightly higher on Monday following mixed performances from the technology and automobile stocks, while the financials were mixed.

For the day, the index rose 14.15 points or 0.04 percent to finish at 38,801.17 after trading between 38,606.32 and 38,895.74.

Among the actives, Nissan Motor sank 0.76 percent, while Mazda Motor climbed 1.16 percent, Toyota Motor perked 0.04 percent, Honda Motor dropped 0.94 percent, Softbank Group tumbled 1.93 percent, Mitsubishi UFJ Financial shed 0.55 percent, Mizuho Financial dipped 0.02 percent, Sumitomo Mitsui Financial retreated 1.49 percent, Mitsubishi Electric declined 1.60 percent, Sony Group slumped 1.55 percent, Panasonic Holdings added 0.51 percent and Hitachi dropped 1.45 percent.

The lead from Wall Street provides little clarity as the major averages opened slightly lower but then headed in opposite directions to finish the day mixed.

The Dow gained 123.24 points or 0.28 percent to finish at 44,593.65, while the NASDAQ sank 70.41 points or 0.36 percent to close at 19,643.86 and the S&P 500 rose 2.06 points or 0.03 percent to end at 6,068.50.

The choppy trading on Wall Street came as traders digested congressional testimony by Federal Reserve Chair Jerome Powell, who told the Senate Banking Committee the central bank does "not need to be in a hurry" to adjust its policy stance.

Stocks moved to the downside in early trading amid lingering concerns about a global trade war after President Donald Trump officially announced tariffs on U.S. steel and aluminum imports.

Oil prices moved higher Tuesday amid concerns about a possible drop in crude supplies due to U.S. sanctions on Russian oil, while a weaker dollar contributed as well to the rise in oil prices. West Texas Intermediate Crude oil futures for March rose $1.00 or 1.4 percent at $73.32 a barrel.