RTTNews - Tokyo stocks are expected to move modestly higher at Wednesday's market open, following a mixed session on Wall Street overnight. U.S. stocks posted a gain, thanks to a late-session rally after spending most of the day moving from the red to the black.
Japan stocks moved generally higher on Tuesday, hitting a 10-month higher as the Topix index posted its 13th straight session of gains, the longest winning streak since March 1988.
The benchmark Nikkei 225 Average closed higher by 22.54 points or 0.22 percent at 10,375.01.
Among the Nikkei component stocks, there were 132 closing higher 77 closing lower and 16 were unchanged.
The broader Topix index was up 1.46 points or 0.15 percent at 959.02.
Rising demand for commodities helped the shippers move higher. Nippon Yusen was up 18 yen or 4.5 percent, Kawasaki Kisen Kaisha rose 21 yen or 5.93 percent and Mitsui OSK Lines was up 8 yen or 1.36 percent.
A round of profit taking hit the car makers, with Honda falling 30 yen or 0.98 percent, Fuji Heavy was down 2 yen or 0.48 percent, Mazda was down 10 yen or 3.80 percent, Mitsubishi Motors was down 3 yen or 1.71 percent, Suzuki was down 120 yen or 4.96 percent and Toyota was down 60 yen or 1.47 percent after announcing a smaller than expected first quarter loss.
Trading company Mitsui & Co was up 67 yen or 5.68 percent on heavy volume while rival Mitsubishi Corp was up 40 yen or 2.09 percent.
In the banking sector, Mitsubishi UFJ Financial closed unchanged, Mizuho Financial was up 2 yen or 0.88 percent, Sumitomo Mitsui was down 30 yen or 0.72 percent and Resona Holdings declined 35 yen or 2.45 percent. Investment bank Nomura holdings was down 18 yen or 2.16 percent.
Overseas, U.S. stocks wavered on both sides of the break-even line for most of the session before closing with a gain. At the close, the Dow Jones Industrial Average was up 33.63 points or 0.36 percent at 9,320.63, the Nasdaq Composite Index was up 2.70 points or 0.13 percent at 2,011.31 and the Standard & Poor's 500 index was up 3.02 points or 0.30 percent at 1,005.65.
Asia/Pacific stocks put in a mixed performance on Tuesday.
Hong Kong's Hang Seng index was down 10.83 points or 0.05 percent at 20,796.43.
The Shanghai Composite index in China was up 8,85 points or 0.26 percent at 3,471.44.
In India, the BSE 30 index was down 93.25 points or 0.59 percent at 15,830.98.
Indonesia's Jakarta Composite index was up 21.30 points or 0.91 percent at 2,360.09.
The KOSPI/Seoul Composite index was up 1.39 points or 0.09 percent at 1,566.37.
The Taiwan Weighted Index was down 100.84 points or 1.43 percent at 6,955.87.
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