Japan's Nikkei share gauge surged past the 71,000 level for the first time on Thursday as a ceasefire deal between the U.S. and Iran boosted demand for risk assets.The benchmark Nikkei 225 jumped 1.88% to 71,219.45, after touching an intraday high of 71,293.64. The broader Topix gained 1.67% to 4,080.26. The U.S. and Iran released the text of an interim agreement to end their war, with U.S. President Donald Trump threatening to resume attacks and kill Iranian officials if they failed to honour their commitments.Markets in Asia also reacted to a hawkish tilt by the U.S. Federal Reserve, which held interest rates steady. The dollar strengthened broadly, while the yen touched a near two-year low, approaching levels that prompted Tokyo to intervene in markets. Chip-related shares led the Nikkei's gain, with Socionext jumping 9.19% and Screen Holdings rising 4.96%. Financial stocks also advanced, with Mitsubishi UFJ Financial Group up 2.44%. Marine transportation stocks lagged, with Nippon Yusen falling 2.08%.
Japan's Nikkei gauge crosses 71,000 on US-Iran peace deal
Japan's Nikkei share index soared to a historic 71,000 level on Thursday. This surge followed a ceasefire agreement between the U.S. and Iran. The U.S. Federal Reserve's stance also influenced markets. Chip-related and financial stocks led the gains. Marine transportation stocks saw a decline. The Nikkei 225 index reached an intraday high of 71,293.64.
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