RTTNews - A mixed open is expected for Japan stocks on Wednesday, in the wake of Wall Street's modest gains overnight. Traders also await an interest rate decision from the Bank of Japan, with most analysts expecting no change in the BOJ's rate.
Japan's market closed higher Tuesday, breaking a nine-session streak of losses. Financial stocks led the gains, as was the case in the previous session on Wall Street.
The benchmark Nikkei 225 Average was up 211.48 points or 2.34 percent at 9,261.81.
Of the Nikkei component stocks, there were 191 closing higher, 33 were lower and 1 closed unchanged.
The broader Topix index was up 16.15 points or 1.9 percent at 868.57.
In the banking sector, Mitsubishi UFJ gained 18 yen or 3.38 percent, Mizuho Financial rose 5 yen or 2.59 percent on heavy trading of over 248 million shares, Sumitomo Mitsui was up 190 yen or 5.41 percent and Resona Holdings was up 7 yen or 0.55 percent. Investment bank Nomura Holdings jumped 46 yen or 6.89 percent.
In the auto sector, Nissan Motor was up 37 yen or 7.28 percent, Mazda was up 11 yen or 5.42 percent, Fuji Heavy gained 18 yen or 5.61 percent, Honda was up 65 yen or 2.74 percent and Toyota gained 120 yen or 3.55 percent.
Among the electronics companies, Sony advanced 120 yen or 5.54 percent, Canon was up 100 yen or 3.42 percent, Pioneer was up 19 yen or 9.31 percent and Sharp Corp was up 27 yen or 3.13 percent.
In overseas trading, U.S. stocks posted modest gains in a lackluster trading session. At the end of trading, the Dow Jones Industrial Average was up 27.81 points or 0.33 percent at 8,3598.49, the Nasdaq Composite index was up 6.52 points or 0.36 percent at 1,799.73 and the Standard & Poor's 500 index was ahead by 4.79 points or 0.53 percent at 905.84.
All of the major markets in the Asia/Pacific region closed higher on Tuesday.
Hong Kong's Hang Seng index was up 631.10 points or 3.66 percent at 17,885.73.
In China, the Shanghai Composite index was up 64.60 points or 2.10 percent at 3,145.16.
The BSE 30 index in India rose 453.38 points or 3.38 percent to 13,853.70.
Indonesia's Jakarta Composite index was up 36.44 points or 1.80 percent at 2,056.58.
In South Korea, the KOSPI/Seoul Composite index advanced 7.44 points or 0.54 percent at 1,385.56.
The Taiwan Weighted Index rose 108.59 points or 1.66 percent to 6,639.41.
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