TOKYO (dpa-AFX) - Ahead of Wednesday's holiday for National Founding Day, the Japan stock market had moved higher in three straight sessions, soaring almost 3,800 points or 6.8 percent along the way. Now at a fresh record closing high, the Nikkei 225 sits just above the 57,650-point plateau although the rally may stall on Thursday.
The global forecast for the Asian markets is soft on fading optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were slightly lower and the Asian markets figure to split the difference.
The Nikkei finished sharply higher on Tuesday following gains from the financial shares, technology stocks and automobile producers.
For the day, the index skyrocketed 1,286.64 points or 2.28 percent to finish at 57,650.54 after trading between 56,812.01 and 57,960.19.
Among the actives, Nissan Motor strengthened 1.49 percent, while Mazda Motor skyrocketed 12.00 percent, Toyota Motor shed 0.40 percent, Honda Motor accelerated 2.11 percent, Softbank Group surged 10.68 percent, Mitsubishi UFJ Financial collected 2.59 percent, Mizuho Financial spiked 3.43 percent, Sumitomo Mitsui Financial vaulted 2.51 percent, Mitsubishi Electric climbed 1.06 percent, Sony Group rallied 3.04 percent, Panasonic Holdings jumped 1.90 percent and Hitachi tumbled 2.89 percent.
The lead from Wall Street is weak as the major averages opened higher but quickly headed south and hugged the line for the balance of the day, finally ending slightly under water.
The Dow shed 66.74 points or 0.13 percent to finish at 50,121.40, while the NASDAQ slumped 36.01 points or 0.16 percent to close at 23.066.47 and the S&P 500 eased 0.34 points or 0.00 percent to end at 6,941.47.
The initial strength on Wall Street followed the release of a closely watched Labor Department report showing employment in the U.S. increased more than expected in January.
However, the report also showed a significant downward revision to job growth in 2025, with the increase in employment revised to 181,000 jobs from 584,000 jobs.
The stronger-than-expected job growth in January may also have reduced the likelihood of near-term interest rate cuts by the Federal Reserve, offsetting the initial positive reaction.
Crude oil prices climbed on Wednesday amid heightening tension between the U.S. and Iran, with Israel's intervention exacerbating the standoff. West Texas Intermediate crude for March delivery was up $0.57 or 0.89 percent at $64.53 per barrel.
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