TOKYO (dpa-AFX) - The Japanese stock market is trading modestly higher on Tuesday, reversing the losses in the previous two sessions, following the broadly positive cues from European markets and lack of cues from Wall Street overnight, with the Nikkei 225 moving above the 42,350 level, with a mixed performance across most sectors.
The benchmark Nikkei 225 Index is up 178.45 points or 0.42 percent at 42,367.24, after touching a high of 42,399.63 earlier. Japanese shares ended sharply lower on Monday.
Market heavyweight SoftBank Group is losing almost 1 percent, while Uniqlo operator Fast Retailing is gaining almost 1 percent. Among automakers, Honda is edging up 0.2 percent and Toyota is also edging up 0.1 percent.
In the tech space, Screen Holdings is edging up 0.2 percent and Tokyo Electron is gaining almost 1 percent, while Advantest is edging down 0.3 percent.
In the banking sector, Mitsubishi UFJ Financial and Mizuho Financial are edging down 0.2 to 0.3 percent each, while Sumitomo Mitsui Financial is edging up 0.3 percent.
The major exporters are mostly higher. Mitsubishi Electric is edging up 0.3 percent, Panasonic is gaining more than 1 percent and Canon is adding almost 1 percent, while Sony is edging down 0.2 percent.
Among the other major gainers, Kirin Holdings is surging more than 5 percent and Sumitomo Pharma is gaining almost 5 percent, while Mitsui Mining & Smelting, Isetan Mitsukoshi and M3 are adding almost 4 percent each. Taiheiyo Cement, Sumco and Sumitomo Chemical are advancing more than 3 percent each, while Minebea Mitsumi, Dai Nippon Printing, Dentsu Group and Asahi Group Industries are up almost 3 percent each.
Conversely, Mercari is losing more than 3 percent and Ryohin Keikaku is declining almost 3 percent.
In the currency market, the U.S. dollar is trading in the lower 147 yen-range on Tuesday.
On Wall Street, the markets were closed for Labor Day on Monday after closing lower on Friday.
The major European markets all also moved to the upside on the day. The Germany's DAX climbed 0.57 percent, while the U.K.'s FTSE 100 and France's CAC 40 edged up 0.1 percent and 0.05 percent.
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