Japan's Nikkei 225 tops 71,000 after U.S.-Iran ceasefire lifts confidence
Japan's Nikkei 225 index broke past 71,000 for the first time on Thursday, thanks to a U.S.-Iran ceasefire that calmed global tensions and lifted investor spirits.
The Nikkei jumped 1.65%, reaching an intraday high of 71,398.58 before settling at midday at 71,052.30.
The broader Topix gained 1.4% to 4,069.56.
Yen weakness boosts Japanese exporters
A strong dollar and weak yen, thanks to the US Fed keeping rates steady, gave Japanese exporters an extra boost.
Largest percentage gainers like Murata Manufacturing (+12.98%), Ibiden (+8.38%), and Ajinomoto (+7.40%) led the gains, while bank shares and electric appliances outperformed too.
On the flip side, marine transport and oil sectors struggled, with Konami Group dropping by 6.81%.
Takayuki Miyajima, senior economist at Sony Financial Group, says optimism around AI and semiconductor-related stocks, lower energy costs and Middle East developments are fueling Japan's market momentum right now.