RTTNews - A higher open is expected for Japan stocks on Tuesday, as traders come off a long holiday weekend with a strong U.S. lead in hand. Wall Street stocks moved broadly higher, led by the tech sector, following a series of better than expected earnings reports.
Japan's markets were closed on Monday in observance of the Marine Day holiday.
When Japan stocks last traded on Friday, stocks rose for a 4th straight session. The benchmark Nikkei 225 Average gained 51.16 points or 0.55 percent to finish at 9,395.32. Trading was light in advance of the holiday weekend.
Among the Nikkei component stocks, there were 132 closing higher, 79 were lower and 14 closed unchanged.
The broader Topix index gained 0.7 percent to 878.29.
The brokerage houses were strong, with Nomura Holdings gaining 20 yen or 2.80 percent, Daiwa Securities advanced 16 yen or 3.17 percent and Mizuho Securities was up 12 yen or 4.60 percent.
For the big banks, Mitsubishi UFJ was up 4 yen or 0.75 percent , Mizuho Financial was up 3 yen or 1.58 percent, Sumitomo Mitsui added 10 yen or 0.27 percent and Resona Holdings advanced 20 yen or 1.60 percent.
On the down side, NEC Corp plunged 28 yen or 8.86 percent after news reports of a possible capital raising issue. The company issued a statement saying no decisions on the issue has been made.
Among the auto makers, Honda was up 5 yen or 0.20 percent, Mazda was down 8 yen or 3.33 percent, Mitsubishi Motors was down 4 yen or 2.55 percent and Toyota was up 10 yen or 0.29 percent.
In overseas trading, U.S. stocks were higher, buoyed by a round of improved corporate earnings results and word of a financing plans for CIT Group. At the closing bell on Wall Street, the Dow Jones Industrial Average was up 104.21 points or 1.19 percent at 8,848.159, the Nasdaq Composite index was up 22.68 points or 1.20 percent at 1,909.29 and the Standard & Poor's 500 index was higher by 10.75 points or 1.14 percent at 951.13.
All of the active major Asia/Pacific markets closed higher on Monday.
In Hong Kong, the Hang Seng index was up 696.71 points or 3.70 percent to 19,502.37.
China's Shanghai Composite index added 77.18 points or 2.42 percent to 3,266.92.
The BSE 30 index in India rose 446.09 points or 3.03 percent to 15,191.01.
The KOSPI/Seoul Composite index advanced 38.41 points or 2.67 percent to 1,478.51.
The Taiwan Weighted Index was up 87.87 points or 1.28 percent to 6,938.86.
Indonesia's markets were closed on Monday.
For comments and feedback: contact email@example.com