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Trump's turn on China trade deal gives Japan short-sellers whiplash

Retail investors nurse losses after misreading president's willingness to compromise

U.S. President Donald Trump waves to reporters prior to departing Washington at Joint Base Andrews on Oct. 28.   © Reuters

TOKYO -- As investors who bet against Japan's rising stock market count their losses, they can reflect on the biggest factor in the miscalculation: U.S. President Donald Trump.

Last month's partial trade deal between the U.S. and China sparked a relief rally among institutional investors. But for Japan's famously contrarian retail investors, memories of a sharp Tokyo market sell-off last autumn remain fresh.

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