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Japanese Market Modestly Higher

(RTTNews) - The Japanese stock market recovered after a weak start and is modestly higher on Wednesday following the positive cues overnight from Wall Street. Nevertheless, investors remained cautious after reports indicated the Japanese government plans to expand the nation's second state of emergency to seven more prefectures as the COVID-19 pandemic worsened in areas beyond Tokyo.

The benchmark Nikkei 225 Index is adding 35.10 points or 0.12 percent to 28,199.44, after touching a low of 28,133.59 in early trades. The Japanese market ended on a flat note Tuesday.

Market heavyweight SoftBank Group is rising more than 3 percent, while Fast Retailing is edging down 0.1 percent. In the tech space, Tokyo Electron is higher by more than 3 percent and Advantest is advancing more than 2 percent.

The major exporters are mostly higher despite a stronger yen. Mitsubishi Electric is higher by 0.6 percent, Canon is adding 0.3 percent and Panasonic is up 0.1 percent, while Sony is lower by almost 1 percent.

Among automakers, Honda is adding 0.7 percent, while Toyota is declining 1 percent. In the banking sector, Sumitomo Mitsui Financial is adding almost 1 percent and Mitsubishi UFJ Financial is up 0.1 percent.
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