Japan's Nikkei rises on Wall Street gains, crude oil dip
Japan's Nikkei share average rose on Tuesday, buoyed by overnight gains on Wall Street and a decline in crude oil prices. The Nikkei advanced 0.2% to end the morning session at 70,081.53, while the broader Topix climbed 0.4% to 4,163.61.
TOKYO, Oct 6 (Reuters) — Japan's Nikkei share average rose on Tuesday, buoyed by overnight gains on Wall Street and a decline in crude oil prices. 61. Among the Nikkei's 225 components, 140 rose and 82 fell, with three trading flat. Overnight, all three of the main US indexes rose, with the tech-focused Nasdaq Composite hitting a record high amid a rally in tech heavyweights including Nvidia.
7%. "For individual stocks, perceptions of whether they are overvalued or undervalued are being assessed in relation to their current share price levels," said Nomura Securities strategist Wataru Akiyama. More broadly though, "the fall in crude oil prices is clearly having an effect," he said. Japan is heavily dependent on imported energy, particularly from the Middle East.
Investors will also watch for the results of a 10-year Japanese government bond auction later in the day, with yields at multi-decade highs amid worries about Prime Minister Sanae Takaichi's expansionary fiscal policies and a selloff in French sovereign debt. Bank of Japan Governor Kazuo Ueda will also give a speech after Tuesday's market close that could give hints on the pace of further interest rate hikes. com;)