TOKYO (dpa-AFX) - The Japanese stock market has climbed higher in consecutive trading days, jumping almost 2,250 points or 3 percent in that span. Now at a fresh record closing high, the Nikkei 225 sits just above the 66,930-point plateau and it may add to its winnings on Tuesday.
The global forecast for the Asian markets suggests mild upside on support from the technology shares. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.
The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the automobile producers and a mixed performance from the technology stocks.
For the day, the index advanced 604.83 points or 0.91 percent to finish at 66,934.33 after trading between 66,244.84 and 67,231.28.
Among the actives, Nissan Motor plunged 5.39 percent, while Mazda Motor tumbled 2.44 percent, Toyota Motor tanked 4.49 percent, Honda Motor crashed 3.48 percent, Softbank Group skyrocketed 14.02 percent, Mitsubishi UFJ Financial collected 0.80 percent, Mizuho Financial dipped 0.14 percent, Sumitomo Mitsui Financial added 0.72 percent, Mitsubishi Electric plummeted 7.17 percent, Sony Group rallied 2.85 percent, Panasonic Holdings stumbled 2.84 percent and Hitachi sank 0.77 percent.
The lead from Wall Street is positive as the major averages opened under water on Monday but quickly started to trend higher, finally ending at fresh record closing highs.
The Dow added 46.42 points or 0.09 percent to finish at 51,078.88. while the NASDAQ climbed 114.19 points or 0.42 percent to end at 27,086.81 and the S&P 500 rose 19.90 points or 0.26 percent to close at 7,599.96.
The higher close on Wall Street partly reflected strength among tech stocks after Nvidia (NVDA) unveiled a new superchip RTX Spark in collaboration with Microsoft (MSFT) that the company said reinvents Windows PCs for the era of personal AI agents.
Buying interest was somewhat subdued, however, as the price of crude oil surged in reaction to the latest developments regarding the conflict in the Middle East.
Crude oil prices skyrocketed Monday on reports the U.S. and Iran exchanging attacks while the U.S. is yet to endorse a negotiated settlement to end the war. West Texas Intermediate crude for July delivery was up $4.64 or 5.31 percent at $92.00 per barrel.
However, crude oil prices pulled back off their highs after President Donald Trump said talks with Iran are continuing at a 'rapid pace,' while positive communications with Israeli Prime Minister Benjamin Netanyahu and Hezbollah also spurred hopes for an end to the war.
Closer to home, Japan will see May numbers for its monetary base later today, with forecasts suggesting a decline of 9.5 percent on year following the 11.3 percent drop in April.
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