(RTTNews) – The Japanese stock market is slightly higher on Friday, extending the gains of the previous session, with the benchmark Nikkei 225 rising above the 26,300 level, following broadly positive signals from Wall Street during the day. next day, helped by strength in tech stocks, which mirrored their peers on the tech-heavy Nasdaq.
The benchmark Nikkei 225 gained 186.76 points or 0.71% to 26,358.01, after hitting a high of 26,390.99 earlier. Japanese stocks closed slightly higher on Thursday.
The SoftBank group, heavyweight in the market, gained more than 1%, while the operator Uniqlo Fast Retailing lost more than 1%. Among automakers, Honda lost more than 1% and Toyota lost 1.5%.
In technology, Advantest gained 3.5%, Screen Holdings gained 2.5% and Tokyo Electron rose nearly 4%.
In the banking sector, Mitsubishi UFJ Financial lost nearly 2% and Mizuho Financial fell more than 2%, while Sumitomo Mitsui Financial gained nearly 1%.
Among the main exporters, Panasonic rose by 0.4% and Mitsubishi Electric gained almost 1%, while Sony fell by 0.3% and Canon lost more than 1%.
Among the other big losers, M3 jumped almost 6%, while Daikin Industries and Shionogi & Co. each gained more than 4%. Shin-Etsu Chemical and Ajinomoto add nearly 4% each, while CyberAgent is up more than 3%.
Conversely, Mitsubishi Motors fell nearly 7%, IHI fell nearly 6%, Subaru lost more than 5%, and Mitsubishi Heavy Industries fell nearly 5%, while Hitachi Construction Machinery and Sompo Holdings fell more 3% each.
In economic news, consumer prices in Japan rose 2.5% year-on-year overall in May, the Interior and Communications Ministry said on Friday. This was in line with expectations and unchanged from the previous month. On a seasonally adjusted monthly basis, headline inflation rose 0.2% – again in line with expectations and slowing from 0.4% the previous month. Core CPI – which excludes volatile food prices – rose 2.1% year on year, matching forecasts and unchanged from the April reading.
In the currency market, the US dollar is trading in the upper range of 134 yen on Friday.
On Wall Street, stocks extended the volatility seen in the previous session, fluctuating throughout the trading day on Friday. Benefiting from some strength late in the day, the major averages all ended the session firmly in positive territory.
Both the Nasdaq and the S&P 500 hit new highs for the session before the close of trading. The Dow Jones climbed 194.23 points or 0.6% to 30,677.36, the Nasdaq jumped 179.11 points or 1.6% to 11,232.19 and the S&P 500 jumped 35.84 points or 1% at 3,795.73.
Meanwhile, major European markets all traded lower on the day. While the German DAX index fell by 1.8%, the British FTSE 100 index fell by 1% and the French CAC 40 index by 0.6%.
Oil futures slipped on Thursday, losing ground for a second straight session on worries about the outlook for energy demand amid the growing possibility of a recession. West Texas Intermediate crude oil futures for August ended down $1.92 or 1.8% at $104.27 a barrel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.