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Tokyo Stocks Close Up 1,028 Yen in Sharp Rebound on Middle East Peace Hopes
Tokyo stocks rebounded sharply on April 10, with the Nikkei Stock Average posting strong gains on hopes for progress in Middle East peace negotiations, a surge in Fast Retailing <9983>, and advances in AI and semiconductor-related stocks. The index briefly topped the 57,000 level during the session.
The Nikkei Stock Average closed at 56,924.11, up 1,028.79 yen from the previous session. Trading volume on the Prime Market totaled about 2.432 billion shares, with turnover of about \8.7378 trillion. Advancers numbered 469, or about 29% of all issues, while decliners totaled 1,050 and 58 stocks were unchanged.
U.S. stocks rose in the previous session, with the Dow Jones Industrial Average advancing and the Nasdaq Composite extending its winning streak to seven sessions. The Philadelphia Semiconductor Index (SOX) hit a record high. Tokyo stocks opened higher, tracking gains on Wall Street. Expectations for progress in U.S.-Iran peace negotiations scheduled for April 11 also supported sentiment. Fast Retailing, which reported strong earnings the previous day, along with AI and semiconductor-related stocks, led the market higher. The Nikkei Stock Average maintained firm momentum, briefly surpassing the 57,000 level for the first time in about a month shortly after 2:30 p.m. Fast Retailing alone contributed about 650 yen to the Nikkei's gain, while high-weight stocks such as Tokyo Electron <8035> and Fujikura <5803> also lifted the benchmark. However, more than 60% of stocks listed on the TSE Prime Market declined, pushing the TOPIX lower. The special quotation (SQ) for April stock index options was reportedly set at 56,572.89.
Among individual stocks, Kioxia Holdings <285A>, Advantest <6857>, and Lasertec <6920> rose, while Furukawa Electric <5801> and Sumitomo Electric Industries <5802> also gained. JX Advanced Metals <5016> and Mitsui Kinzoku <5706> advanced, while Kokusai Electric <6525>, FANUC <6954>, Nitto Boseki <3110>, and Rorze <6323> surged. Murata Manufacturing <6981>, TDK <6762>, and Resonac Holdings <4004> traded firmly.
On the downside, Nintendo <7974>, Mitsubishi Heavy Industries <7011>, and IHI <7013> fell, while Sony Group <6758>, Hitachi <6501>, and Toyota Motor <7203> declined. Mitsui & Co. <8031> and NTT <9432> were weak. Seven & i Holdings <3382> and AEON <8267> also fell.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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