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Japanese Market Significantly Higher

(RTTNews) - The Japanese stock market is significantly higher on Tuesday, recouping some of the losses in the previous session, with the benchmark Nikkei index above the 28,300 level, following the broadly positive cues from Wall Street overnight, as traders picked stocks at a bargain after the recent virus-induced sell-off and digested reports that the new coronavirus variant would be milder than initially dreaded, though it spreads rapidly.

The benchmark Nikkei 225 Index is gaining 309.52 points or 1.11 percent to 28,236.89, after touching a high of 28,339.24 earlier. Japanese shares closed modestly lower on Monday.

Market heavyweight SoftBank Group is surging more than 7 percent and Uniqlo operator Fast Retailing is adding more than 1 percent. Among automakers, Honda is gaining more than 1 percent and Toyota is edging up 0.2 percent.

In the tech space, Advantest and Tokyo Electron are gaining more than 1 percent each, while Screen Holdings is up 2.5 percent. In the banking sector, Mitsubishi UFJ Financial, Mizuho Financial and Sumitomo Mitsui Financial are gaining almost 1 percent each.

The major exporters are mostly higher. Mitsubishi Electric is gaining more than 1 percent and Canon is advancing almost 3 percent, while Panasonic and Sony are adding almost 1 percent each.

Among the other major gainers, Marubeni is gaining almost 5 percent, while Mitsui O.S.K. Lines, Tota and Marui Group are adding almost 4 percent each. West Japan Railway, Showa Denko K.K., Mazda Motor, Tokai Carbon, Nippon Steel, Tokyu Fudosan Holdings and Mitsui Chemicals are up more than 3 percent each, while Asahi Group Holdings, Sumitomo Heavy Industries and Sumitomo Heavy Industries are advancing almost 3 percent each.
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