Japanese Market Significantly Higher | Nasdaq

(RTTNews) – The Japanese stock market is significantly higher on Monday, recouping the losses in the previous two sessions, with the Nikkei 225 just below the 28,300 level, following the mixed cues from Wall Street on Friday, with gains across most sectors as traders picked up stocks at a bargain after last week’s sell-off. Meanwhile, traders remain concerned about the spike in domestic coronavirus cases, with Japan topping 20,000 daily new cases for the third straight day.

The benchmark Nikkei 225 Index is up 166.07 points or 0.59 percent at 28,290.35, after touching a high of 28,449.99 earlier. Japanese shares ended sharply lower on Friday.

Market heavyweight SoftBank Group is gaining more than 1 percent and Uniqlo operator Fast Retailing is adding almost 1 percent. Among automakers, Honda is gaining more than 2 percent and Toyota is adding 1.5 percent.

In the tech space, Advantest and Screen Holdings are gaining more than 2 percent each, while Tokyo Electron is adding more than 1 percent. In the banking sector, Sumitomo Mitsui Financial is gaining almost 1 percent, Mizuho Financial is edging down 0.2 percent and Mitsubishi UFJ Financial is adding almost 2 percent.

The major exporters are mixed, with Panasonic is gaining almost 1 percent, Sony is edging up 0.3 percent, while Canon is edging down 0.5 percent and Mitsubishi Electric is flat.

Among the other major gainers, Shinsei Bank, Inpex and Shimizu are gaining more than 4 percent each, while NHI Foods and Astellas Pharma are adding almost 4 percent each. Tokyu Fudosan is up more than 3 percent, while Yokohama Rubber, Fujitsu, Obayashi, Bridgestone, Taisei, T&D Holdings, Alps Alpine, Hitachi Zosen and Kajima are up almost 3 percent each.

Conversely, there are no major losers.

In the currency market, the U.S. dollar is trading in the mid-114 yen-range on Monday.

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