Japan stocks trade higher in early moves on Tuesday, as the yen continues to weaken against the dollar. Most exporters get stronger, but financial stocks remain weak.
The yen falls further to ¥102.66 per dollar, down from ¥102.65 in the prior session. On Monday, Japan reported a record trade deficit of about $134 billion, triggering losses in the currency.
Most exporters gain on a weaker yen, as electronic component supplier Tokyo Electron advances 1.1%, construction equipment manufacturer Komatsu rises 0.9%. NEC Corp. gains 1%, Fanuc Corp. adds 0.6%, and Toshiba moves up 0.2%.
Among auto makers, Toyota is up 0.7%, Nissan Motor is up 0.5%, and Honda is up 0.1%.
However, financial stocks retreat, as Shinsei Bank tumbles 3%, Sumitomo Mitsui Trust Holdings falls 1.2%, Daiwa Securities Group loses 1.1%, Mitsubishi UFJ Financal Group drops 1%, and Dai-Ichi Life Insurance Company is off 0.3%.
In Australia, the benchmark S&P/ASX 200 index also get a lift from the U.S. stocks, trading up 0.4%.
Major banks are stronger, as Australia and New Zealand Banking Group rises 0.9%, Westpac Banking Corp. gains 0.8%, both Commonwealth Bank of Australia and National Australia Bank are up 0.5%.
However, miners are mixed, with Newcrest Mining decling 2.2%, Rio Tinto down 0.6%, Alcoa off 0.5%, while Alumina and BHP Billiton up 0.5% and 0.1% respectively.
Meanwhile, the Aussie strengthens against the U.S. dollar, up to 93.56 U.S. cents from 93.37 U.S. cents in the previous session.
The yen falls further to ¥102.66 per dollar, down from ¥102.65 in the prior session. On Monday, Japan reported a record trade deficit of about $134 billion, triggering losses in the currency.
Most exporters gain on a weaker yen, as electronic component supplier Tokyo Electron advances 1.1%, construction equipment manufacturer Komatsu rises 0.9%. NEC Corp. gains 1%, Fanuc Corp. adds 0.6%, and Toshiba moves up 0.2%.
Among auto makers, Toyota is up 0.7%, Nissan Motor is up 0.5%, and Honda is up 0.1%.
However, financial stocks retreat, as Shinsei Bank tumbles 3%, Sumitomo Mitsui Trust Holdings falls 1.2%, Daiwa Securities Group loses 1.1%, Mitsubishi UFJ Financal Group drops 1%, and Dai-Ichi Life Insurance Company is off 0.3%.
In Australia, the benchmark S&P/ASX 200 index also get a lift from the U.S. stocks, trading up 0.4%.
Major banks are stronger, as Australia and New Zealand Banking Group rises 0.9%, Westpac Banking Corp. gains 0.8%, both Commonwealth Bank of Australia and National Australia Bank are up 0.5%.
However, miners are mixed, with Newcrest Mining decling 2.2%, Rio Tinto down 0.6%, Alcoa off 0.5%, while Alumina and BHP Billiton up 0.5% and 0.1% respectively.
Meanwhile, the Aussie strengthens against the U.S. dollar, up to 93.56 U.S. cents from 93.37 U.S. cents in the previous session.