Japan's Nikkei buoyed by Wall Street gains, dip in crude oil

Japan's Nikkei share average edged up on Tuesday, according to Business Recorder, helped by a Wall Street rally overnight and softer crude prices. At the end of the morning session, the index was 0.2 per cent firmer at 70,081.53, and the broader Topix had added 0.4 per cent to 4,163.61.

Of the 225 Nikkei constituents, 140 advanced, 82 declined and three finished unchanged. All three major US indices closed higher overnight, with the Nasdaq Composite reaching a record, as heavyweights such as Nvidia rallied. In Tokyo's tech segment, Advantest gained 1.7 per cent while SoftBank Group dropped 2.7 per cent.

Nomura Securities strategist Wataru Akiyama said valuation judgements on individual stocks were being measured against current share prices, while the lower oil cost was clearly weighing on the market. Japan relies heavily on imported energy, notably from the Middle East. Investors are also watching a 10-year government bond auction and a speech by Bank of Japan Governor Kazuo Ueda after the close, which could offer clues on the pace of future rate increases.