Japanese Market Significantly Higher

(RTTNews) - The Japanese stock market is significantly higher on Monday, extending the gains in the previous session, with the Nikkei 225 staying above the 27,400 level, following the broadly positive cues from global markets on Friday, with gains across most sectors, led by financial and technology stocks. The benchmark Nikkei 225 Index is up 316.50 or 1.13 percent at 28,243.97, after touching a high of 28,285.64 earlier. Japanese shares ended sharply higher on Friday.

Market heavyweight SoftBank Group is gaining more than 3 percent, while Uniqlo operator Fast Retailing is adding more than 1 percent. Among automakers, Honda is gaining more than 1 percent and Toyota is also adding more than 1 percent.

In the tech space, Screen Holdings is gaining almost 1 percent, while Advantest is adding more than 1 percent and Tokyo Electron is advancing almost 3 percent.

In the banking sector, Sumitomo Mitsui Financial is adding 1.5 percent, Mitsubishi UFJ Financial is gaining more than 1 percent and Mizuho Financial is up almost 1 percent.

The major exporters are mostly higher. Canon and Mitsubishi Electric are gaining almost 1 percent each, while Sony is advancing 2.5 percent and Panasonic is edging up 0.2 percent.

Among the other major gainers, Tokai Carbon and Kobe Steel are gaining almost 3 percent each.

Conversely, Sumitomo Pharma is losing almost 3 percent.

In the currency market, the U.S. dollar is trading in the higher 135 yen-range on Monday.

On Wall Street, stocks showed another strong move to the upside during trading on Friday after turning positive over the course of Thursday's session. With the rally on the day, the major averages climbed further off their recent lows.

The major averages finished the session just off their best levels of the day. The Dow jumped 387.40 points or 1.2 percent to 33,390.97, the Nasdaq soared 226.02 points or 2.0 percent to 11,689.01 and the S&P 500 surged 64.29 points or 1.6 percent to 4,045.64.

The major European markets also moved to the upside on the day. While the U.K.'s FTSE 100 Index closed just above the unchanged line, the French CAC 40 Index advanced by 0.9 percent and the German DAX Index jumped by 1.6 percent.

Crude oil prices reversed an early sell-off after the United Arab Emirates denied a report that was thinking of leaving OPEC. West Texas Intermediate crude for April delivery surged $1.52 or 1.9 percent to $79.68 a barrel. For the week, crude oil spiked 4.4 percent.