Japan Stock Market Tipped To Open In The Red

(RTTNews) - The Japanese stock market rebounded on Monday, one session after snapping the two-day winning streak in which it had rallied more than 370 points or 1 percent. The Nikkei 225 now rests just shy of the 37,030-point plateau although it figures to head south again on Tuesday.

The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well.

The Nikkei finished modestly higher on Monday following gains from the automobile producers, weakness from the technology stocks and a mixed picture from the financial shares.

For the day, the index added 141.10 points or 0.38 percent to finish at 37,028.27 after trading between 36,705.02 and 37,113.48.

Among the actives, Nissan Motor retreated 1.46 percent, while Mazda Motor added 0.68 percent, Toyota Motor advanced 0.93 percent, Honda Motor accelerated 0.91 percent, Softbank Group strengthened 1.43 percent, Mitsubishi UFJ Financial eased 0.13 percent, Mizuho Financial declined 1.53 percent, Sumitomo Mitsui Financial skidded 1.17 percent, Mitsubishi Electric tumbled 1.60 percent, Sony Group tanked 3.11 percent, Panasonic Holdings slumped 1.57 percent and Hitachi surrendered 2.81 percent.

The lead from Wall Street suggests continued consolidation as the major averages opened lower on Monday and continued to weaken as the day progressed.

The Dow plummeted 890.01 points or 2.08 percent to finish at 41,911.71, while the NASDAQ crashed 727.90 points or 4.00 percent to close at 17,468.32 and the S&P 500 stumbled 155.64 points or 2.70 percent to end at 5,614.56.

The weakness on Wall Street came amidst rising concerns about the outlook for economic growth and corporate earnings after U.S. President Donald Trump declined to rule out the possibility of a recession following his tariff actions on Mexico, Canada and China.