Japanese Market Modestly Higher

(RTTNews) - The Japanese stock market is trading modestly higher on Wednesday, extending the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 38,300 level, with gains across most sectors led by index heavyweights and technology stocks. Financial stocks are a weak spot.

The benchmark Nikkei 225 Index is up 110.52 or 0.29 percent at 38,322.03, after touching a high of 38,529.64 earlier. Japanese stocks ended modestly higher on Tuesday.

Market heavyweight SoftBank Group is gaining almost 2 percent, while Uniqlo operator Fast Retailing is edging down 0.5 percent. Among automakers, Honda is gaining almost 1 percent, while Toyota is edging down 0.2 percent.

In the tech space, Advantest is gaining more than 1 percent, Tokyo Electron is adding more than 2 percent and Screen Holdings is advancing almost 1 percent.

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

Among the major exporters, Canon is edging up 0.5 percent, while Mitsubishi Electric is losing almost 2 percent and Sony is down more than 1 percent. Panasonic is flat.

Among other major gainers, Isetan Mitsukoshi Holdings is gaining more than 4 percent, while Shiseido, Sumco and Sumitomo Pharma are advancing almost 4 percent each. Otsuka Holdings, Nissan Motor and Minebea Mitsumi are adding more than 3 percent each.

Conversely, Hino Motors is plummeting more than 13 percent, while IHI and Nintendo are losing more than 4 percent each. Kawasaki Heavy Industries is down more than 3 percent, while Shimizu, Mitsubishi Heavy Industries and Tokio Marine are declining almost 3 percent each.

In the currency market, the U.S. dollar is trading in the higher 144 yen-range on Wednesday.

On the Wall Street, stocks moved modestly to the upside on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday - and while U.S. Commerce Secretary Howard Lutnick told reporters the talks are "going well," there has been no breakthrough as of yet.

The Dow climbed 105.11 points or 0.25 percent to finish at 42,866.87, while the NASDAQ gained 123.75 points or 0.63 percent to close at 19,714.99 and the S&P 500 added 32.93 points or 0.55 percent to end at 6,038.81.

Meanwhile, the major European markets turned in a mixed performance on the day. The U.K.'s FTSE 100 gained 0.44 percent, while Germany's DAX and France's CAC 40 closed down 0.1 percent and 0.2 percent, respectively.

Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain. West Texas Intermediate crude oil for July delivery closed down by $0.31 to settle at $64.98 per barrel.