RTTNews - The stock market in Japan ended in positive territory with marginal gains on Tuesday amid choppy trading after the local currency stabilized against the U.S dollar and the market in China ended in positive territory following sell-off in the previous session.
The benchmark Nikkei 225 Index ended at 10,530, representing a gain of 37.53 points, or 0.36%, while the broader Topix index of all first section stocks gained 3.04 points, or 0.31%, to close at 969.
Light sweet crude oil price for October delivery ended at $70.38 a barrel in electronic trading, up $0.42 from its previous close $69.96 a barrel in New York on Monday.
Chip-makers advanced on prospects of higher demand and increased earnings. Toshiba Corp., the biggest maker of semiconductors in the country, gained 2.72%, Sumco Corp. advanced surged up 10%, and NEC Corp added 1.49%.
Precision equipment makers also ended in positive territory. Nikon Corp. gained 4.25%, Olympus Corp. added 1.58%, Ricoh Co advanced 1.79% and Konica Minolta rose 1.70%.
Automotive stocks ended in positive territory after Japan Automobile Dealers Association revealed that domestic car sales increased 2.3% during August. The strengthening of the U.S dollar also lifted the sentiment as a weaker local currency increases the realization of export proceeds.
Honda Motor gained 1.19%, Toyota Motor Co added 0.75%, Suzuki Motor rose 1.35% and Mitsubishi Motor climbed 0.59%.
Marine stocks declined following drop in Baltic Dry Index. Among the shipping stocks, Kawasaki Kisen lost 1.47%, and Mitsui OSK Lines declined 2.02%. However, Nippon Yusen remained unchanged at previous close.
In the U.S., stocks ended in the negative territory on Monday as traders preferred to lock-in gains from the recent rally and move to the sidelines amid sell-off in Chinese market. Traders shrugged off the results of the Institute for Supply Management - Chicago's survey of regional manufacturing activity, which showed that activity unexpectedly reached neutral territory in August following ten consecutive months of contraction.
The Dow closed down by 47.92 points or 0.5% at 9,496, the Nasdaq fell by 19.71 points or 1% to 2,009 and the S&P 500 slipped by 8.31 points or 0.8% to close at 1,021.
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