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Tokyo stocks mixed at open as European gains provide support
Tokyo stock markets showed mixed trading on the 26th, with the Nikkei Stock Average rising 89 yen from the previous trading day to 65,247 yen at the opening, extending its gains.
While profit-taking sales are likely to emerge amid concerns over the rapid pace of recent gains, persistent buying continues to flow into semiconductor-related stocks and other sectors. Although U.S. stock markets were closed on the previous day due to Memorial Day, European stock markets were bought almost across the board, providing a tailwind for the Tokyo market. Progress in negotiations between the United States and Iran, along with speculation of an imminent agreement to end hostilities, is supporting risk-on sentiment. The pause in rising oil prices and declining long-term interest rates are also positive factors. However, upside momentum remains heavy as the Nikkei Average has risen more than 5,300 yen over the past three trading days through the previous session. Market direction could shift during trading hours depending on news flow related to the Iranian situation.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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