TOKYO (dpa-AFX) - The Japanese stock market is rising on Tuesday following the positive cues from Wall Street and on news that U.S. President Donald Trump has left the hospital after undergoing treatment for the coronavirus and returned to the White House.
The benchmark Nikkei 225 Index is adding 74.02 points or 0.32 percent to 23,386.16, after touching a high of 23,420.07 in early trades.
Market heavyweight SoftBank Group is advancing more than 1 percent and Fast Retailing is adding 0.4 percent.
The major exporters are mostly higher on a weaker yen. Panasonic and Sony are advancing more than 1 percent, while Canon is rising almost 1 percent. Mitsubishi Electric is edging down 0.1 percent.
In the financial sector, Mitsubishi UFJ Financial is higher by more than 1 percent and Sumitomo Mitsui Financial is up 0.4 percent. Among automakers, Honda is gaining almost 2 percent and Toyota Motor is adding 0.2 percent.
In the oil sector, Inpex and Japan Petroleum are rising more than 1 percent each. In the tech sector, Tokyo Electron is down 0.3 percent, while Advantest is adding 0.4 percent.
Among the other major gainers, Hino Motors is gaining almost 5 percent, while Showa Denko and Alps Alpine are rising more than 3 percent each.
Conversely, Daikin Industries is losing more than 3 percent, Japan Exchange Group is lower by almost 3 percent and Olympus Corp. is declining more than 2 percent.
In the currency market, the U.S. dollar is trading in the upper 105 yen-range on Tuesday.
On Wall Street, stocks closed sharply higher on Monday amid positive reports about President Donald Trump's health after he was rushed to Walter Reed hospital on Friday. Trump revealed in a tweet late in the trading day that he will be released from the hospital today. Buying interest was also generated following the release of a report from the Institute for Supply Management showing activity in the U.S. service sector unexpectedly grew at a faster rate in the month of September.
The Dow jumped 465.83 points or 1.7 percent to 28,148.64, the Nasdaq spiked 257.47 points or 2.3 percent to 11,332.49 and the S&P 500 surged up 60.16 points or 1.8 percent to 3,408.60.
The major European markets also moved to the upside on Monday. While the German DAX Index spiked by 1.1 percent, the French CAC 40 Index advanced by 1 percent the U.K.'s FTSE 100 Index rose by 0.7 percent.
Crude oil prices moved higher on Monday, lifted by reports about improvement in U.S. President Donald Trump's health and prospects of his early discharge from hospital. WTI crude for November ended up $2.17 or about 5.9 percent at $39.22 a barrel.
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