TOKYO (dpa-AFX) - Ahead on Monday's holiday for Respect For The Aged Day, the Japanese stock market had moved higher in three straight sessions, rallying more than 1,300 points or 2.9 percent in that span. The Nikkei 225 now sits just beneath the 44,770-point plateau and it may add to its winnings again on Tuesday.
The global forecast for the Asian markets is positive on an improving outlook for interest rates. The European and U.S. markets were up and the Asian bourses are expected to follow suit.
The Nikkei finished modestly higher on Friday following gains from the finance and technology sectors and a mixed picture from the automobile producers.
For the day, the index rallied 395.62 points or 0.89 percent to finish at 44.768.12 after trading between 44,548.57 and 44,888.02.
Among the actives, Nissan Motor accelerated 1.62 percent, while Mazda Motor tanked 2.57 percent, Toyota Motor perked 0.09 percent, Honda Motor eased 0.06 percent, Softbank Group jumped 1.82 percent, Mitsubishi UFJ Financial rose 0.24 percent, Mizuho Financial collected 0.68 percent, Sumitomo Mitsui Financial added 0.37 percent, Mitsubishi Electric rallied 2.34 percent, Sony Group improved 0.73 percent, Panasonic Holdings gained 0.74 percent and Hitachi sank 0.61 percent.
The lead from Wall Street is upbeat as the major averages opened higher on Monday and largely remained in the green throughout the trading day.
The Dow rose 49.23 points or 0.11 percent to finish at 45,883.45, while the NASDAQ jumped 207.65 points or 0.94 percent to end at a record 22,348.75 and the S&P 500 gained 30.99 points or 0.47 percent to close at 6,615.28, also a record.
The strength on Wall Street came following positive comments from President Donald Trump about trade talks between top U.S. and Chinese officials in Europe.
Traders also continued to look ahead to the Federal Reserve's monetary policy announcement on Wednesday. With recent data showing relatively subdued inflation and a weakening labor market, the Fed is widely expected to lower interest rates by at least a quarter-point.
Traders are likely to pay close attention to the Fed's accompanying statement as well as Fed Chair Jerome Powell's post-meeting comments for clues about the likelihood of further rate cuts.
Crude oil moved sharply higher on Monday amid brewing Middle East tensions and the heightening Russia-Ukraine war even as softening demand concerns surface. West Texas Intermediate crude for October delivery was up $0.58 or 0.93 percent at $63.27 per barrel.
Closer to home, Japan will release July results for its tertiary industry activity index later today; in June, the index was at 4.50.
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