(RTTNews) - A mixed to higher open is expected Wednesday for Japan stocks. The markets get a positive lead from Wall Street, which rose modestly overnight.

Japan’s market moved higher on Monday, its second straight session of advances. Trading was cautious as investors awaited a key machinery orders report due on Thursday and news from the Democratic Party of Japan’s efforts to form a new government.

The benchmark Nikkei 225 Average posted a gain of 72.29 points or 0.7 percent to close at 10.393.23.

Among the Nikkei component stocks, there were 127 closing higher, 82 were lower and 16 finished unchanged.

The broader Topix index rose 1.8 points or 0.19 percent to close at 946.40.

The auto makers were mixed, as Honda closed down 5 yen or 0.17 percent, Subaru maker Fuji Heavy was up 2 yen or 0.51 percent, Mazda was down 1 yen or 0.40 percent, Mitsubishi Motors was down 1 yen or 0.61 percent, Nissan Motor was down 2 yen or 0.32 percent and Toyota was lower by 10 yen or 0.26 percent.

Oil explorer/producer Inpex rose 5,000 yen or 0.6 percent. while Showa Shell gained 22 yen or 2.26 percent.

Electronics giant Sony was down 10 yen or 0.40 percent, Canon was up 40 yen or 1.13 percent, Sanyo Electric rose 14 yen or 5.62 percent and Panasonic Electric was up 22 yen or 2.08 percent.

Among the big banks, Mizuho Financial was down 6 yen or 2.86 percent, Mitsubishi UFJ was down 12 yen or 2.16 percent, Sumitomo Mitsui was down 80 yen or 2.11 percent and Resona Holdings declined 5 yen or 0.40 percent.

In overseas trading, spiking commodity prices helped push U.S. stocks higher, as oil rose sharply and gold touched the $1,000 per ounce mark. At the closing bell on Wall Street, the Dow Jones Industrial Average was up 56.07 points or .59 percent at 9,497.34, the Nasdaq Composite Index was up 18.99 points or 0.94 percent at 2,037.77 and the Standard and Poor’s 500 index was up 8.99 points or 0.88 percent at 1,025.39.

Asia/Pacific markets finished broadly higher on Monday.

In Hong Kong, the Hang Seng index advanced 440.50 points or 2.14 percent to 21,069.91.

The Shanghai Composite index in China was up 49.36 points or 1.71 percent to 2,930.40.

India’s BSE 30 index advanced 107.35 points or 0.67 percent to 16,123.67.

In Indonesia, the Jakarta Composite index was down by a fraction of a point to close at 2,371.30.

South Korea’s KOSPI/Seoul Composite index was up 11.12 points or 0.69 percent at 1,619.69.

The Taiwan Weighted Index was up 89.40 points or 1.24 percent at 7,313.99.

On Wednesday’s economic news calendar, Japan is scheduled to release preliminary July readings for its leading and coincident indexes on Wednesday. Japan also will release preliminary August figures for machine tool orders, which plunged 72.3 percent on year in July, and Bank of Japan board member Miyako Suda will speak at a business conference in Nagasaki.

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

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