July 6, 2016 - 6:20 PM EDT
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Japanese Market Declines

TOKYO (dpa-AFX) - The Japanese stock market is modestly lower on Thursday, as the positive cues overnight from Wall Street were more than offset by a stronger yen.

In late-morning trades, the benchmark Nikkei 225 Index is losing 43.39 points or 0.28 percent to 15,335.60, off a low of 15,294.59 earlier.

Among the major exporters, Toshiba is gaining almost 2 percent, Panasonic is advancing more than 1 percent, Sony is adding 1 percent, and Sharp is higher by almost 4 percent. Canon is edging down 0.04 percent.

Market heavyweight Fast Retailing is rising 2 percent, while SoftBank Group is declining 0.5 percent.

Automaker Toyota and Honda are advancing almost 1 percent each. In the banking space, Mitsubishi UFJ Financial is adding 0.8 percent.

In the oil sector, Inpex is declining 1 percent and JX Holdings is lower by 0.8 percent despite higher crude oil prices.

Among the other major gainers, Kyowa Hakko Kirin is rising more than 4 percent, while Yamato Holdings is gaining almost 4 percent after a rating upgrade.

On the flip side, Aeon Co. is losing more than 6 percent after the supermarket operator reported a loss for the first quarter, while UNY Group is down more than 3 percent and Sekisui House is lower by 3 percent.

In the currency market, the U.S. dollar is trading in the upper 100 yen-range on Thursday.

On Wall Street, stocks showed a significant turnaround and closed higher on Wednesday as lingering Brexit concerns were partly offset by the release of a report from the Institute for Supply Management showing faster than expected growth in the U.S. service sector activity in the month of June.

The Dow rose 78.00 points or 0.4 percent to 17,918.62, the Nasdaq advanced 36.26 points or 0.8 percent to 4,859.16 and the S&P 500 climbed 11.18 points or 0.5 percent to 2,099.73.

The major European markets showed notable moves to the downside on Wednesday. The U.K.'s FTSE 100 Index tumbled by 1.3 percent, while the German DAX Index and the French CAC 40 Index plummeted by 1.7 percent and 1.9 percent, respectively.

Crude oil futures rallied Wednesday along with global stocks, as risk appetite returned after a brief hiatus. August WTI oil settled at $47.43 per barrel on the New York Mercantile Exchange, up 83 cents, or 1.8 percent.

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Source: Equities.com News (July 6, 2016 - 6:20 PM EDT)

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