(RTTNews) – The Japanese stock market on Thursday ended the two-day winning streak in which it had collected more than 230 points or 0.6 percent. The Nikkei 225 now sits just beneath the 39,650-point plateau although it might tick higher again on Friday.
The global forecast for the Asian markets is cautiously optimistic, with support expected from airline, steel and financial stocks. The European markets were mixed and the U.S. bourses were slightly higher and the Asian markets figure to split the difference.
The Nikkei finished modestly lower on Thursday following losses from the technology stocks and automobile producers, while the financial sector was mixed.
For the day, the index stumbled 174.92 points or 0.44 percent to finish at 39,646.36 after trading between 39,530.95 and 39,795.75.
Among the actives, Nissan Motor sank 0.82 percent, while Mazda Motor stumbled 2.33 percent, Toyota Motor shed 0.56 percent, Honda Motor rose 0.24 percent, Softbank Group collected 1.61 percent, Mitsubishi UFJ Financial fell 0.33 percent, Mizuho Financial improved 0.70 percent, Sumitomo Mitsui Financial lost 0.55 percent, Mitsubishi Electric slumped 0.64 percent, Sony Group tumbled 1.74 percent, Panasonic Holdings dropped 0.79 percent and Hitachi dipped 0.12 percent.
The lead from Wall Street suggests mild upside as the major averages opened lower on Thursday but gradually moved higher over the course of the day to end with small gains.
The Dow climbed 192.34 points or 0.43 percent to finish at 44,650.64, while the NASDAQ rose 19.33 points or 0.09 percent to close at 20,630.66 and the S&P 500 added 17.20 points or 0.27 percent to end at 6,280.46.
The higher close on Wall Street came despite ongoing uncertainty about President Donald Trump’s trade policies as he continues to threaten higher tariffs on various sectors and countries.
On the economic front, the Labor Department said first-time claims for U.S. unemployment benefits unexpectedly edged lower last week.
Crude oil prices fell on Thursday amid concerns about a supply increase for August by OPEC, the huge crude stock inventory in the United States and intensifying U.S. tariff pressures. West Texas Intermediate crude for August delivery tumbled $1.81 to settle at $66.57 per barrel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
