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Tokyo stocks (open) - surge on rebound as U.S. semiconductor rally spurs buybacks
Tokyo stocks opened higher on the 14th, with the Nikkei share average jumping 582 yen to 57,085 from the previous close, marking a significant rebound.
Japanese equities saw prominent short covering, particularly in large-cap stocks, reclaiming the 57,000 mark at the open. Overnight on Wall Street, both the Dow Jones Industrial Average and the Nasdaq Composite advanced, led by strong buying in the semiconductor sector. This prompted a spillover of investment into related tech stocks in the Tokyo market. While uncertainty persists following the collapse of peace negotiations between the United States and Iran, the Nikkei has demonstrated notable resilience amid a murky external environment, with the 5-day moving average providing support. The current rally also appears to be fueled by short sellers unwinding positions to stem losses.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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