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Cable Maker Stocks Surge Led by Furukawa Electric on Short Covering After Corning Gains◇

Fri Apr 3, 2026 11:12 am JST Catalyst

Major cable maker stocks including Furukawa Electric Co., Ltd. <5801>, Fujikura Ltd. <5803>, and Sumitomo Electric Industries, Ltd. <5802> surged sharply. Cable stocks had been delivering strong performance based on the equity story of growing demand for optical fiber cables for AI data centers. However, the previous day, when concerns resurfaced that U.S. President Trump's national address suggested a prolonged military action against Iran, the stocks were pressured downward in line with the overall market. Meanwhile, in the U.S. stock market on the 2nd, the three major indices closed mixed, avoiding a sharp decline. Corning Inc. , a peer in the optical fiber cable business, demonstrated resilience by closing up more than 3%. Against this backdrop, investors who had taken short positions in cable stocks anticipating valuation adjustment risks were forced to cover their positions, adding momentum to the upward move.

(Note) The "◇" at the end of the title indicates that the article contains multiple stocks.

Source: MINKABU PRESS

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