TOKYO (dpa-AFX) - The Japanese stock market is sharply higher on Monday, extending the gains in the previous session, despite the broadly negative cues from Wall Street on Friday. The Nikkei 225 is moving well above the 66,300 level, with gains in index heavyweights and technology stocks partially offset by weakness in financial stocks.
The benchmark Nikkei 225 Index is up 1,305.41 points or 2.01 percent at 66,326.35, after touching a high of 66,393.04 earlier. Japanese shares ended sharply higher on Friday.
Market heavyweight SoftBank Group is surging almost 7 percent and Uniqlo operator Fast Retailing is gaining more than 1 percent. Among automakers, Honda is flat and Toyota is gaining almost 1 percent.
In the tech space, Advantest and Tokyo Electron are jumping almost 5 percent each, while Screen Holdings is advancing almost 3 percent.
In the banking sector, Sumitomo Mitsui Financial and Mitsubishi UFJ Financial are declining more than 1 percent each, while Mizuho Financial is edging down 0.2 percent.
The major exporters are mixed. Mitsubishi Electric is gaining almost 2 percent and Panasonic is advancing almost 4 percent, while Canon is down almost 2 percent and Sony is losing more than 2 percent.
Among the other major gainers, Lasertec is soaring more than 8 percent, Kioxia Holdings is jumping more than 7 percent and Tokuyama is surging more than 5 percent, while IHI and Kanadevia are advancing almost 5 percent each. Tokyo Electric Power, Disco, Ibiden and Resonac Holdings are gaining more than 4 percent each, while Tokai Carbon, Toppan Holdings and Nippon Yusen K.K. are adding almost 4 percent each.
Conversely, Trend Micro and Konica Minolta are declining almost 4 percent each, while Nomura Research Institute is losing more than 3 percent. NEC, SHIFT and BANDAI NAMCO are down almost 3 percent each.
In the currency market, the U.S. dollar is trading in the higher 155 yen-range on Monday.
On Wall Street, stocks moved mostly lower during trading on Friday, giving back ground after moving notably higher over the two previous sessions. The major averages all moved to the downside, although selling pressure was somewhat subdued.
The major averages finished the day off their lows of the session but still in the red. The Dow slid 271.86 points or 0.5 percent to 53,414.25, the Nasdaq fell 77.07 points or 0.3 percent to 26,506.99 and the S&P 500 fell 29.11 points or 0.4 percent to 7,7718.60.
Meanwhile, the major European markets turned in a mixed performance on the day. The German DAX Index rose by 0.2 percent, while the U.K.'s FTSE 100 Index closed just below the unchanged line and the French CAC 40 Index edged down by 0.1 percent.
Crude oil prices eased on Friday, reversing gains from the two previous sessions as the U.S. and Iran refrained from any military attacks. West Texas Intermediate crude for October delivery dipped $0.15 or 0.16 percent at $91.15 per barrel.
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