The Nikkei index surged by 5% today, buoyed by investor optimism surrounding potential progress in the reopening of the strategically significant Strait of Hormuz. This development comes as geopolitical tensions in the region have raised concerns about oil supply disruptions, which could have far-reaching implications for global markets. As the market reacts positively, investors are also closely monitoring Japan’s plans to intervene in the foreign exchange market, a move that may aim to stabilize the yen amid fluctuating currency pressures. The prevailing sentiment in Japan's equity market reflects a broader trend of extreme greed, contrasting sharply with the fear that has characterized other sectors. As traders digest these developments, the focus remains on how these factors will influence both domestic and international economic conditions in the coming weeks.