Japan’s benchmark index surges over 4% as optimism over Iran peace talks and strong earnings lift sentiment.
The Nikkei 225 climbed more than 4% to a record high above 62,000, nearing 63,000, as markets reopened after Golden Week. Gains were driven by optimism over a potential Iran-U.S. peace deal, a rally in Japanese government bonds, and strong tech sector earnings.
The index’s surge follows a period of volatility tied to geopolitical tensions and currency fluctuations. Earlier, the yen faced pressure amid verbal intervention warnings from Japanese officials, while the Bank of Japan’s March minutes signaled potential rate hikes aligned with economic improvements.
Oil prices retreated on peace deal hopes, easing inflation concerns, though Bank of Canada Governor Macklem warned of possible consecutive rate hikes if energy costs remain elevated.