TOKYO (dpa-AFX) - The Japanese market is trading notably lower on Thursday, reversing the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is falling to near the 64,300 level, with weakness in index heavyweights, financial and technology stocks.
The benchmark Nikkei 225 Index is down 317.93 points or 0.49 percent to 64,303.31, after touching a high of 64,866.44 earlier. Japanese stocks ended significantly higher on Wednesday.
Market heavyweight SoftBank Group is losing almost 2 percent and Uniqlo operator Fast Retailing is flat. Among automakers, Toyota is edging down 0.2 percent, while Honda is edging up 0.1 percent.
In the tech space, Advantest is edging down 0.1 percent, Tokyo Electron is losing more than 3 percent and Screen Holdings is tumbling almost 6 percent.
In the banking sector, Mizuho Financial and Mitsubishi UFJ Financial are declining almost 1 percent each, while Sumitomo Mitsui Financial is edging down 0.4 percent.
Among the major exporters, Mitsubishi Electric is edging down 0.3 percent and Panasonic is losing almost 3 percent, while Sony is gaining more than 3 percent and Canon is adding more than 1 percent.
Among other major losers, Resonac Holdings is tumbling more than 9 percent, while Furukawa Electric and Kokusai Electric are declining more than 3 percent each. Tokai Carbon, NGK, Sumitomo Electric Industries, Mitsui Kinzoku and Ibiden are losing almost 3 percent each.
Conversely, SHIFT is soaring more than 9 percent, Trend Micro is jumping more than 7 percent, BayCurrent is surging more than 6 percent, Nomura Research Institute is advancing almost 5 percent and NEC is gaining more than 4 percent, while Fujitsu and Taiyo Yuden are adding almost 4 percent each. Recruit Holdings is up more than 3 percent.
In the currency market, the U.S. dollar is trading in the lower 158 yen-range on Thursday.
On Wall Street, stocks moved mostly higher over the course of the trading day on Wednesday after fluctuating early in the session. The major averages all moved to the upside, with the tech-heavy Nasdaq showing a notable advance.
The major averages saw some volatility late in the session but closed firmly in positive territory. The Nasdaq jumped 278.04 points or 1.1 percent to 26,702.86, the Dow climbed 360.21 points or 0.7 percent to 52,856.09 and the S&P 500 rose 44.60 points or 0.6 percent to 7,757.17.
The major European markets also moved to the upside on the day. While the German DAX Index shot up by 1.4 percent and the French CAC 40 Index jumped by 1.1 percent, the U.K.'s FTSE 100 Index posted a more modest gain, inching up 0.2 percent.
Crude oil prices edged lower Wednesday on reports of progress in Strait of Hormuz shipping traffic. West Texas Intermediate crude for December delivery was down by $0.69 or 0.71 percent at $97.13 per barrel.
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