(RTTNews) - The Japanese stock market has tracked higher in three straight sessions, advancing more than 275 points or 0.7 percent along the way. The Nikkei 225 now sits just above the 39,370-point plateau and it may extend its gains again on Thursday.
The global forecast for the Asian markets is upbeat on improved optimism about the outlook for interest rates. The European markets were up and the U.S. bourses were mostly higher and the Asian markets figure to follow suit.
The Nikkei 225 finished slightly higher on Wednesday following gains from the technology stocks, weakness from the automobile companies and a mixed performance from the financial sector.
For the day, the index perked 4.65 points or 0.01 percent to finish at 39,372.23 after trading between 39,112.80 and 39,401.93.
Among the actives, Nissan Motor fell 0.30 percent, while Mazda Motor shed 0.63 percent, Toyota Motor rose 0.11 percent, Honda Motor lost 0.61 percent, Softbank Group skidded 1.10 percent, Mitsubishi UFJ Financial jumped 1.99 percent, Mizuho Financial collected 0.68 percent, Sumitomo Mitsui Financial added 0.53 percent, Mitsubishi Electric rallied 1.28 percent, Sony Group improved 0.72 percent, Panasonic Holdings spiked 1.86 percent and Hitachi climbed 1.18 percent.
The lead from Wall Street is mixed to higher as the major averages opened in the green on Wednesday, although the Dow was unable to hold those gains.
The Dow dropped 99.27 points or 0.22 percent to finish at 44,148.56, while the NASDAQ surged 347.65 points or 1.77 percent to close at a record 20,034.89 and the S&P 500 rallied 49.28 points or 0.82 percent to end at 6,084.19.
The strength in the broader markets followed the release of closely watched inflation data that came in line with estimates.
With the data matching expectations, the report has increased confidence that the Federal Reserve will lower interest rates by another quarter-point next week.
CME Group's FedWatch Tool is currently indicating a 98.6 percent chance the Fed will cut rates by 25 basis points at its December meeting.
Oil futures settled higher Wednesday on possible sanctions on Russia by the European Union, expectations of increased demand from China and data showing a jump in gasoline stockpiles. West Texas Intermediate crude oil futures for January closed up $1.70 or 2.5 percent at $70.29 a barrel.
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