TOKYO (dpa-AFX) - The Japanese market is trading sharply higher on Thursday, snapping the three-session losing streak, following the mixed cues from Wall Street overnight. The Nikkei 225 is surging 2.2 percent to well above the 68,250 level, with gains in technology stocks partially offset by weakness in financial and automaker stocks.
The benchmark Nikkei 225 Index is up 1,469.94 points or 2.20 percent to 68,288.99, after touching a high of 68,361.95 earlier. Japanese stocks ended sharply lower on Wednesday.
Market heavyweight SoftBank Group is gaining more than 3 percent, while Uniqlo operator Fast Retailing is losing almost 1 percent. Among automakers, Toyota is losing more than 2 percent and Honda is declining almost 2 percent.
In the tech space, Advantest is jumping almost 8 percent, while Screen Holdings and Tokyo Electron are surging almost 6 percent each.
In the banking sector, Mizuho Financial is edging down 0.1 percent, while Mitsubishi UFJ Financial and Sumitomo Mitsui Financial are losing almost 1 percent.
Among the major exporters, Mitsubishi Electric is gaining more than 1 percent and Panasonic is surging more than 5 percent, while Sony is losing almost 2 percent. Canon is flat.
Among other major gainers, Kioxia Holdings is soaring more than 10 percent and Ibiden is jumping more than 6 percent, while Mitsui Kinzoku and Fujikura are surging almost 6 percent each. Renesas Electronics and Murata Manufacturing are advancing more than 5 percent each, while Disco, Resonac Holdings and Yaskawa Electric are gaining more than 4 percent each. Socionext and Sumco are adding more than 3 percent each.
Conversely, Mitsubishi Materials is tumbling almost 7 percent, Yokohama Rubber is declining more than 4 percent and Daiwa Securities is losing more than 3 percent, while Aeon, Tokyo Electric Power, Suzuki Motor and Nissan Motor are down almost 3 percent each.
In the currency market, the U.S. dollar is trading in the lower 162 yen-range on Thursday.
On Wall Street, stocks regained ground over the course of the trading day on Wednesday after moving sharply lower early in the session. The major averages climbed well off their lows of the session, with the Nasdaq reaching positive territory.
The Dow slumped 576.76 points or 1.1 percent to 52,348.39, pulling back further off their record closing high set on Monday. The S&P 500 also fell 21.14 points or 0.3 percent to 7,482.71, but the Nasdaq rose 51.96 points or 0.2 percent to 25,870.65.
Meanwhile, the major European markets moved to the downside on the day. While the U.K.'s FSE 100 Index slumped by 1.7 percent, the French CAC 40 Index and the German DAX Index both plunged by 2.2 percent.
Crude oil prices skyrocketed on Wednesday amid renewed Middle East tensions after the U.S. and Iran exchanged fresh strikes. West Texas Intermediate crude for August delivery was up $3.16 or 4.49 percent at $73.60 per barrel.
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