The Japanese market is trading firm on Thursday, tracking cues from Wall Street where stocks moved higher overnight, with investors picking up front line stocks from across various sectors.
The benchmark Nikkei 225 index, which rose to around 9,130 in early trades, is currently up 71.85 points or 0.8% at 9,0896.45.
Steel, real estate, precision instruments and pulp & paper stocks are mostly up in positive territory. Automobile, banking and chemicals stocks are trading mixed. Electric power and pharmaceuticals stocks are also exhibiting a mixed trend.
Trend Micro Inc. shares are up over 18% on reports that the company has been approached for a possible takeover. Sumitomo Metal Mining Co. shares are up over 4% following a rating upgrade from Credit Suisse Group.
Isuzu Motors shares are up over 2% on reports the company plans to spend about 10 billion yen to increase production of pickup trucks in Thailand.
Shares of Mitsubishi Chemical Holdings Corp. are up sharply after the company said it will spend one billion yen by May 2011 to expand production of lithium-ion battery materials.
Pacific Metals, Toyota Motor, Dowa Holdings, Sumitomo Metal, Mitsui, Mitsubishi Rayon and T&D Holdings are up 2%-3.5%.
Mitsubishi Logistics, JFE Holdings, Asahi Glass, GS Yuasa, Tokio Marine, Shinsei Bank, Mizuho Trust & Banking, Nisshin Steel, Hino Motors, Inpex, Fujifilm Holding and Shizuoka Bank are also trading notably higher.
In the currency market, the U.S. dollar traded around 84 yen in early deals in Tokyo. The yen is currently trading at 83.83 to the U.S. dollar.
On Wall Street, stocks moved higher on Wednesday amid some relief buying following news of continued albeit slower U.S. economic recovery as seen by the Federal Reserve and solid demand for Portugal's bond offerings.
The major averages saw considerable volatility in late-session dealings but still managed to close on the upside. The Dow gained 46.3 points or 0.4% to end at 10,387, the Nasdaq advanced by about 20 points or 0.9% to 2,228.9 and the S&P 500 ended up 7 points or 0.6% at 1,098.9.
Major European markets saw solid gains on Wednesday. The French CAC 40 index and the German DAX index gained 0.9% and 0.8%, respectively, while the U.K.'s FTSE 100 index ended 0.4% up.
Crude oil prices surged higher on Wednesday, but gains were tempered after the Federal Reserve acknowledged signs of deceleration in the pace of U.S. economic recovery. Light, sweet crude for October delivery settled up US$0.58 at US$74.67 a barrel on the New York Mercantile Exchange.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.