Shutterstock photo(RTTNews.com) - The Japanese stock market is extending losses on Wednesday from the previous session, following the mixed lead from Wall Street and despite a weaker yen.
In late-morning trades, the benchmark Nikkei 225 Index is losing 68.35 points or 0.34 percent to 20,261.84, off a low of 20,213.66 in early trades.
The major exporters are mostly higher on a weaker yen. Mitsubishi Electric is edging up less than 0.1 percent, Canon is adding 0.3 percent and Panasonic is up almost 1 percent, while Sony is down 0.3 percent.
In the oil space, Inpex is advancing almost 1 percent and Japan Petroleum Exploration is rising 0.6 percent despite lower crude oil prices.
Among the best performers, Tokai Carbon is rising more than 4 percent, Nisshin Steel is advancing more than 3 percent and Ricoh Co. is higher by almost 3 percent.
On the flip side, Isuzu Motors is down almost 3 percent, while Keio Corp., Tobu Railway and Nissan Motor are losing more than 2 percent each.
In economic news, Japan will see September results for its small business confidence index and final August figures for machine tool orders today.
In the currency market, the U.S. dollar is trading in the lower 112 yen-range on Wednesday.
On Wall Street, stocks closed mixed on Tuesday in choppy trading amid the release of some disappointing economic data, including a report showing an unexpected drop in new home sales.
While the Dow dipped 11.77 points or 0.1 percent to 22,284.32, the Nasdaq rose 9.57 points or 0.2 percent to 6,380.16 and the S&P 500 inched up 0.18 points or less than a tenth of a percent to 2,496.84.
The major European markets also ended mixed on Tuesday. While the U.K.'s FTSE 100 Index dipped by 0.2 percent, the French CAC 40 Index closed just above the unchanged line and the German DAX Index edged up by 0.1 percent.
Crude oil prices declined on Tuesday, falling from 26-month highs as traders took profits. WTI crude for November fell $0.34 or 0.65 percent to 51.88 per barrel on the New York Mercantile Exchange.
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