Japanese Market Modestly Higher

(RTTNews) - The Japanese stock market is trading modestly higher on Monday, extending the gains in the previous session, following the mixed cues from Wall Street on Friday, with the Nikkei 225 moving above the 43,500 level to fresh all-time highs, with gains in automakers and exporters partially offset by weakness in financial and technology stocks.

The benchmark Nikkei 225 Index is up 158.09 points or 0.36 percent at 43,536.40, after touching a fresh all-time high of 43,714.64 earlier. Japanese shares ended sharply higher on Friday.

Market heavyweight SoftBank Group is edging down 0.4 percent, while Uniqlo operator Fast Retailing is gaining almost 1 percent. Among automakers, Honda is gaining more than 1 percent and Toyota is gaining almost 2 percent.

In the tech space, Advantest is down almost 1 percent, Tokyo Electron is losing more than 1 percent and Screen Holdings is declining almost 2 percent.

In the banking sector, Sumitomo Mitsui Financial and Mitsubishi UFJ Financial are sliding almost 2 percent, while Mizuho Financial is declining 1.5 percent.

The major exporters are mostly higher. Panasonic and Canon are edging up 0.2 percent each, while Mitsubishi Electric is gaining more than 1 percent. Sony is declining more than 2 percent. Among the other major gainers, Isetan Mitsukoshi is soaring more than 7 percent and Suzuki Motor is surging almost 5 percent, while GS Yuasa and J. Front Retailing are gaining more than 4 percent each. Sumco is adding almost 4 percent, while Sapporo Holdings, CyberAgent, Sumitomo Metal Mining and Taiyo Yuden are up more than 3 percent each. Daiichi Sankyo, M3, Ajinomoto, Takashimaya, Mitsui Mining & Smelting and IHI are advancing almost 3 percent each.

Conversely, Lasertec is losing almost 3 percent.

In the currency market, the U.S. dollar is trading in the lower 147 yen-range on Monday.

On Wall Street, stocks moved mostly lower during trading on Friday following the lackluster performance seen in the previous session. The Nasdaq and the S&P 500 moved to the downside, although the narrower Dow managed to post a modest gain.

While the Dow inched up 34.86 points or 0.1 percent to 44,946.12, the S&P 500 fell 18.74 points or 0.3 percent to 6,449.80 and the Nasdaq slid 87.69 points or 0.4 percent to 21,622.98.

The major European markets also turned in a mixed performance on the day. While the French CAC 40 Index climbed by 0.7 percent, the German DAX Index edged down by 0.1 percent and the U.K.'s FTSE 100 Index fell by 0.4 percent.

Crude oil traded lower on Friday ahead of the meeting between the presidents of the U.S. and Russia, which ultimately accomplished nothing. West Texas Intermediate crude for September delivery was down $1.20 or 1.88 percent at $62.76 per barrel.