Japan Stock Market May Erase Monday’s Losses

The Japan stock market has moved lower in two of three trading days since the end of the four-day winning streak in which it had tallied more than 3,800 points or 7.2 percent. The Nikkei finished just above the 56,500-point plateau although it may bounce higher again on Tuesday.

The global forecast for the Asian markets is cautiously optimistic, with energy and technology stocks expected to provide support. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The Nikkei finished modestly lower on Monday following losses from the automobile producers and mixed performances from the financial shares and technology stocks.

For the day, the index sank 421.34 points or 0.74 percent to finish at 56,502.77 after trading between 56,232.78 and 56,765.72.

Among the actives, Nissan Motor tumbled 2.53 percent, while Mazda Motor retreated 1.28 percent, Honda Motor declined 1.22 percent, Softbank Group fell 0.37 percent, Mitsubishi UFJ Financial collected 0.63 percent, Mizuho Financial sank 0.75 percent, Sumitomo Mitsui Financial improved 0.74 percent, Mitsubishi Electric perked 0.02 percent, Sony Group tanked 2.23 percent, Panasonic Holdings added 0.65 percent, Hitachi gained 0.79 percent and Toyota Motor was unchanged.

The lead from Wall Street is positive as the major averages opened under water on Monday but quickly trended to the upside and into the green, finishing at daily highs.