Japanese Market Significantly Higher

(RTTNews) - The Japanese stock market is trading significantly higher on Wednesday, reversing the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The Nikkei 225 is moving above the 47,200 level, with gains across most sectors led by index heavyweights and technology stocks.

The benchmark Nikkei 225 Index is up 378.51 or 0.81 percent at 47,225.83, after touching a high of 47,269.30 earlier. Japanese stocks ended sharply lower on Tuesday.

Market heavyweight SoftBank Group is gaining almost 3 percent and Uniqlo operator Fast Retailing is edging up 0.1 percent. Among automakers, Honda is edging up 0.2 percent and Toyota is gaining almost 1 percent.

In the tech space, Advantest is gaining almost 2 percent and Screen Holdings is advancing more than 4 percent, while Tokyo Electron is edging down 0.1 percent.

In the banking sector, Sumitomo Mitsui Financial is gaining almost 2 percent, Mitsubishi UFJ Financial is adding more than 1 percent and Mizuho Financial is edging up 0.5 percent.

Among the major exporters, Mitsubishi Electric is gaining more than 2 percent, while Canon and Sony are edging up 0.4 percent each. Panasonic is losing almost 1 percent.

Among other major gainers, Mercari is soaring almost 10 percent, Aeon is surging almost 8 percent, Kubota is gaining almost 5 percent and Hitachi is adding more than 4 percent, while Renesas Electronics and Sumitomo Metal Mining are advancing almost 4 percent each. Sapporo Holdings is up more than 3 percent, while Mazda Motor, Daiichi Sankyo and Yaskawa Electric are rising almost 3 percent each.

Conversely, Ryohin Keikaku is losing more than 4 percent.

In the currency market, the U.S. dollar is trading in the higher 151 yen-range on Wednesday.

On the Wall Street, stocks saw substantial volatility over the course of the trading day on Tuesday following the notable rebound seen in the previous session. The major averages recovered from a significant early pullback only to once again come under pressure late in the session.

The major averages eventually ended the session mixed. While the Dow climbed 202.88 points or 0.4 percent to 46,270.46 after plunging more than 600 points in early trading, the S&P 500 dipped 10.41 points or 0.2 percent to 6,644.31 and the Nasdaq slid 172.91 points or 0.8 percent to 22,521.70.

The major European markets also ended mixed on the day. The German DAX Index is down by 0.7 percent and the French CAC 40 Index is down by 0.2 percent, although the U.K.'s FTSE 100 Index is just above the unchanged line.

Crude oil prices pulled back sharply on Tuesday as renewed trade tensions between the U.S. and China have heightened, while forecasts predicting low demand in the months ahead also weighed. West Texas Intermediate crude for November delivery was down $0.70 or 1.18 percent at $58.79 per barrel.