Tokyo, March 18 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average rose more than 1,100 points Wednesday morning, amid receding concerns over a possible crude oil supply decline related to tensions in the Middle East. At 10:13 a.m., the index of 225 selected issues listed on the Tokyo Stock Exchange’s Prime section stood at 54,817.44, up 1,117.05 points, or 2.08 pct, from Tuesday’s closing. Fears over crude oil supply disruptions eased to a certain extent after U.S. National Economic Council Director Kevin Hassett said in an interview with U.S. broadcaster CNBC on Tuesday that tankers are starting to go through the Strait of Hormuz, a major oil chokepoint that is currently under a de facto blockade in the wake of U.S.-Israeli attacks on Iran. Semiconductor-related issues attracted buying due in part to news reports quoting Nvidia CEO Jensen Huang as saying that the U.S. chip powerhouse has restarted production of artificial intelligence semiconductors for the Chinese market. END [Copyright The Jiji Press, Ltd.]
Nikkei Gains over 1,100 Points in Morning
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