Selling leads as Middle East risks rise, but market rebounds on dip buying [Closing]

Selling initially prevailed amid rising Middle East risks, but major indices, including the Nikkei 225, rebounded on dip buying. This report covers market movements at the close.

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The story

Selling reportedly prevailed in today's market against a backdrop of rising Middle East risks, but dip buying emerged and the market was seen rebounding.

The Nikkei 225 reportedly closed at 65,270.95, up 128.17 points, or around 0.20%, from the previous day. USD/JPY remained around 153.62, and the yen's weakening trend was said to be continuing. In U.S. equities, the NY Dow stood at 52,380.66, down 405.41 points, or 0.77%, while the Shanghai Composite was at 3,951.50, up 10.95 points.

Regarding overall market conditions, reports said there was a view that buying to cover short positions had gained momentum after a short-term correction.

At a glance

Nikkei market toneReported to have closed at 65,270.95, up 128.17 points, or 0.20%, from the previous day

USD/JPYTrading at 153.62, with the yen on a weakening trend

Dow Jones Industrial AverageReported at 52,380.66, down 405.41 points, or 0.77%

Shanghai CompositeReported at 3,951.50, up 10.95 points

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