The Japanese stock market experienced a notable upswing on Thursday, breaking a five-day losing streak and drawing strength from the broadly favorable signals observed on Wall Street the previous night. The Nikkei 225 Index has risen significantly above 39,700, registering gains across various sectors, especially among major market players and technology equities.
The Nikkei 225 recorded an increase of 297.43 points or 0.77 percent, reaching 39,742.01, after peaking earlier at 39,932.54. On Wednesday, Japanese shares had closed slightly lower.
Key market heavyweight SoftBank Group saw an increase of over 3 percent, while Uniqlo's operator, Fast Retailing, climbed more than 1 percent. In the automotive sector, Toyota fell by nearly 2 percent, and Honda decreased by over 1 percent.
In the technology sector, Advantest appreciated by more than 2 percent, with Screen Holdings and Tokyo Electron each adding nearly 2 percent.
Within the banking sector, Mizuho Financial saw a slight increase of 0.5 percent, while Sumitomo Mitsui Financial gained over 1 percent, and Mitsubishi UFJ Financial rose by nearly 1 percent.
Among leading exporters, Mitsubishi Electric gained nearly 1 percent, while Canon and Sony edged higher by 0.2 to 0.4 percent. Panasonic, however, declined by over 1 percent.
Significant gainers included Hino Motors, which soared by nearly 8 percent, CyberAgent with a rise of more than 5 percent, and Toho with an increase of almost 5 percent. Japan Steel Works, Nomura Holdings, Nitori Holdings, and Recruit Holdings each added nearly 4 percent. Furthermore, Renesas Electronics, Yaskawa Electric, and Furukawa Electric advanced by more than 3 percent each, with Toto and IHI increasing by almost 3 percent each.
Conversely, Murata Manufacturing saw a drop of nearly 5 percent, and Nissan Motor declined by almost 4 percent.
On the currency front, the U.S. dollar was trading within the lower 156 yen-range on Thursday.
As for the U.S. market, there was a sharp upward movement in stocks on Wednesday, maintaining strong performance throughout the trading day. The major averages surged following a narrow mixed ending on Tuesday.
The technology-driven Nasdaq made a remarkable leap, rising 466.84 points or 2.5 percent to 19,511.23, despite having concluded at its lowest in nearly two months during the prior session. The Dow also rose, climbing 703.27 points or 1.7 percent to 43,221.55, while the S&P 500 made a significant jump of 107.00 points or 1.8 percent to 5,949.91.
European markets also shifted upward, with the German DAX Index increasing by 1.5 percent, the U.K.'s FTSE 100 Index gaining 1.2 percent, and the French CAC 40 Index rising by 0.7 percent.
In the energy market, crude oil prices surged on Wednesday due in part to a decline in U.S. crude inventories the previous week, along with potential supply disruptions tied to fresh sanctions against Russia. Consequently, West Texas Intermediate Crude oil futures for February were up $2.54 or 3.3 percent, closing at $80.04 per barrel.
The material has been provided by InstaForex Company -
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