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Tokyo Stocks (Open): Surge on Short-Covering Rally Led by Futures After Iran Ceasefire Deadline Extended
Tokyo stocks opened sharply higher on April 8th, with the Nikkei Stock Average rising \957 from the previous session to \54,386, marking a substantial gain for the second consecutive session.
U.S. President Trump had set 8:00 p.m. Eastern Time on April 7th (9:00 a.m. Japan Standard Time) as the negotiation deadline, but reversed course at the last minute and announced a two-week extension. In the prior U.S. session, risk-off selling dominated in the morning ahead of Trump's ceasefire negotiation deadline, but equities subsequently proved resilient on short-covering and other buying, with the tech-heavy Nasdaq Composite closing modestly in positive territory. This set the stage for an acceleration of short-covering during Tokyo trading hours.
Source: MINKABU PRESS
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