Nikkei hits record high as tech rally and ceasefire hopes boost sentiment

Japans Nikkei 225 Index jumped 2.38% to close at 59,518 on Thursday, reaching a new all-time high as optimism grew over a possible end to the Middle East conflict.

Reports suggest the United States and Iran may extend their two-week ceasefire to allow more time for peace talks, even as the Strait of Hormuz remains largely closed due to a dual blockade.

Japanese stocks also tracked strong gains on Wall Street, where solid bank earnings and renewed interest in technology shares lifted markets.

Technology and AI-related stocks led the rally, with gains in SoftBank Group (up 5.1%), Kioxia Holdings (up 4.5%), and Fujikura (up 4.7%).

 

Daikin Industries surged 9.1% after Elliott Investment Management revealed a stake in the company and pushed for changes to improve shareholder value.

Disclaimer: No Business Standard Journalist was involved in creation of this content