Japan's Nikkei climbs 1.5% as investors scoop up beaten-down stocks [Yahoo! Finance]
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Source: Yahoo! Finance
stocks on the dip, with risk sentiment running high after markets caught the tailwind from a bounce on Wall Street. The Nikkei was up 1.4% at 39,517.81 by the midday break, while the broader Topix rose 1.2% to 2,735.20. The Nikkei hit an all-time high of 41,087.75 on March 22, although the index has struggled to keep above 40,000 points, posting two consecutive weekly losses. Last week, the benchmark index saw its worst weekly performance since December 2022 as U.S. stocks slipped and profit-taking kicked in. The risk of currency intervention by Japanese authorities also weighed on the market. Still, the Nikkei has gained 16.5% year-to-date, while analysts appeared to dismiss recent declines as signs of a larger reversal. "It really is still a constructive bull pattern," said Tony Sycamore, a market analyst at IG. "That we've had a bit of a pullback I think reflects the fact that we're just starting to see the market in this holding pattern around dollar/yen." The dollar
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