(RTTNews) - Japan stocks are expected to extend their gains at Friday’s market open. U.S. stocks provided a strong lead, posting solid gains after better than expected earnings results.

Japan’s market rebounded from Wednesday’s losses with a broad gain on Thursday, with higher commodity prices and a recovery in China’s stock market putting traders in a buying mood.

The Nikkei 225 Average was up 179.41 points or 1.76 percent at 10,383.41.

Among the Nikkei component issues, there were 207 closing higher, 13 were lower and 5 were unchanged.

The broader Topix index gained 15.34 points or 1.63 percent to close at 958.59.

The motor vehicle makers were among the market leaders. Among them, Honda was up 60 yen or 1.99 percent, Hino Motors was up 19 yen or 5.11 percent, Fuji Heavy Industries was up 1 yen or 0.24 percent, Mazda gained 9 yen or 3.46 percent, Mitsubishi Motor Co. was up 3 yen or 1.81 percent and Toyota was up 50 yen or 1.23 percent.

For the major banks, Mitsubishi UFJ was up 6 yen or 1.03 percent, Mizuho Financial was up 4 yen or 1.79 percent, Sumitomo Mitsui was up 110 yen or 2.80 percent and Resona Holdings advanced 1 yen or 0.08 percent.

Pump maker Ebara Group jumped 44 yen or 12.09 percent, Nippon Light Metals was up 10 yen or 9.62 percent and Sony was down 20 yen or 0.80 percent.

Sanyo Electric added 10 yen or 4.05 percent on high volume of 88 million shares

U.S. stocks moved modestly higher in a low-volume trading session on Wall Street Thursday. At the closing bell, the Dow Jones Industrial Average was up 70.89 points or 0.76 percent at 9,350.05, the Nasdaq Composite index was ahead by 19.98 points or 1.01 percent at 1.989.22 and the Standard & Poor’s 500 index was up 10.91 points or 1.09 percent at 1.007.37.

Most of the other major markets in the Asia/Pacific region posted higher closes on Thursday.

In Hong Kong, the Hang Seng index rose 374.63 points or 1.88 percent to 30,328.86.

China’s Shanghai Composite index advanced 126.00 points or 4.52 percent to 2,911.58.

The BSE 30 index in India was up 202.68 points or 1.37 percent to 15,012.32.

Indonesia’s Jakarta Composite index was up 50.89 points or 2.23 percent to 2,328.64.

In South Korea, the KOSPI/Seoul Composite index was up 30.43 points or 1.97 percent at 1,576.39.

The Taiwan Weighted Index was down 55.35 points or 0.02 points at 6,733.23.

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Posted in Categories: Japan, Releases, Stocks, USA.

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