Japan's Nikkei buoyed by Wall Street gains, dip in crude oil
EWJ•Japan's Nikkei rose 0.2% to 70,081.53 in Tuesday's morning session, while the Topix gained 0.4% to 4,163.61, as Wall Street gains and lower crude oil prices supported shares.
1. Indexes rise
The Nikkei advanced 0.2% to 70,081.53, and the broader Topix climbed 0.4% to 4,163.61. Among the Nikkei's 225 components, 140 rose, 82 fell and three were unchanged.
2. Oil and stocks
Advantest gained 1.7%, while SoftBank Group fell 2.7%. Nomura Securities strategist Wataru Akiyama said perceptions of whether individual stocks were overvalued or undervalued were being assessed against their current share prices, and that lower crude prices were having a clear effect.
3. Investors watch bonds
Investors were also watching a 10-year Japanese government bond auction, with yields at multi-decade highs amid concerns about Prime Minister Sanae Takaichi's expansionary fiscal policies and a selloff in French sovereign debt. Bank of Japan Governor Kazuo Ueda was scheduled to speak after the market close, with investors looking for hints about the pace of further rate hikes.
