Japanese stocks are flying with the Nikkei up 3%

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Japanese stocks, led by another strong gain on Wall Street and continued weakness in the Japanese yen, are now up by over 3% in late trade on Thursday, extending the recovery from the lows seen on April 8 to over 9%.

As of 2pm in Tokyo, the Nikkei 225 currently sits up 3.0% at 16,871.2 points.

All sectors are currently trading in the black with financials, as was the case in US trade, leading the charge higher.

Excluding consumer staples, all sectors are currently up by more than 2%.

Aside from the rally on Wall Street, weakness in the Japanese yen is also contributing the enormous rally, spurring on gains in Japan’s trade-exposed sectors.

The USD/JPY is currently up 0.09% at 109.43, extending the rally seen from Monday’s low of 107.61 to 1.7%.

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