TOKYO (dpa-AFX) - The Japanese stock market on Wednesday ended the four-day losing streak in which it had tumbled more than 2,675 points or 5.1 percent. The Nikkei 225 now sits just beneath the 53,740-point plateau and it may add to its winnings on Thursday.
The global forecast continues to be upbeat on optimism over an end to hostilities in the Middle East. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.
The Nikkei finished with huge gains on Wednesday following bargain hunting among the financial shares, technology stocks and automobile producers.
For the day, the index soared 2,675.96 points or 5.24 percent to finish at the daily high of 53,739.68 after trading as low as 51,902.84.
Among the actives, Nissan Motor accelerated 3.93 percent, while Mazda Motor jumped 4.14 percent, Toyota Motor vaulted 4.71 percent, Honda Motor climbed 2.27 percent, Softbank Group collected 5.88 percent, Mitsubishi UFJ Financial surged 8.00 percent, Mizuho Financial rallied 8.58 percent, Sumitomo Mitsui Financial soared 8.97 percent, Mitsubishi Electric strengthened 7.00 percent, Sony Group elevated 5.08 percent, Panasonic Holdings spiked 7.29 percent and Hitachi gained 6.00 percent.
The lead from Wall Street is firm as the major averages opened higher on Wednesday and remained in the green throughout the trading day, although ending off session highs.
The Dow jumped 224.23 points or 0.48 percent to finish at 46,565.74, while the NASDAQ rallied 250.32 points or 1.16 percent to end at 21,840.95 and the S&P 500 gained 46.80 points or 0.72 percent to close at 6,575.32.
The extended the rally on Wall Street came amid optimism about an end to the U.S. war with Iran following the latest comments by President Donald Trump, who said he expects U.S. military forces to leave Iran in 'two or three weeks.'
The price of crude oil has extended Tuesday's pullback following Trump's comments, with U.S. crude oil futures falling below $100 a barrel.
Crude oil has plummeted on Wednesday after Trump's comments, even if the Strait of Hormuz remains blocked and U.S. goals are not completely met. West Texas Intermediate crude for May delivery was down $1.68 or 1.66 percent at $99.70 per barrel.
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