Nikkei rises on Wall Street gains and falling oil prices
Japan's Nikkei share average posted modest gains on Tuesday, building on positive momentum from Wall Street and a drop in crude oil prices. The benchmark index climbed 0.2% to 70,081.53 by midday, while the broader Topix added 0.4% to 4,163.61. Among the Nikkei's 225 components, 140 stocks advanced, 82 declined, and three remained unchanged.
US markets provided a supportive backdrop, with all three major indexes closing higher overnight. The Nasdaq Composite, led by tech giants like Nvidia, reached a record high. In Japan, tech shares showed mixed performance, with Advantest rising 1.7% while SoftBank Group slipped 2.7%.
The decline in oil prices offered additional relief to Japanese equities, as the nation heavily depends on imported energy, particularly from the Middle East. Analysts noted that lower crude costs could ease pressure on Japan's trade balance.
Investors remained cautious ahead of a 10-year Japanese government bond auction and a speech by Bank of Japan Governor Kazuo Ueda. Market participants are closely watching for clues about potential interest rate hikes following recent yield spikes and global bond market volatility.