Tokyo, March 25 (Jiji Press)–Japan’s key Nikkei 225 stock average briefly gained over 1,700 points on Wednesday morning, as excessive concerns about the Middle East situation receded. Investor sentiment improved amid growing expectations for a ceasefire agreement between the U.S.-Israel side and Iran, leading to broad-based buying of Tokyo stocks, market sources said. At 9:34 a.m., the index of 225 selected issues listed on the Tokyo Stock Exchange’s Prime section was up 1,709.06 points, or 3.27 pct, at 53,961.34. Market players welcomed Tuesday’s report by the New York Times that the United States has presented a ceasefire plan to Iran, as well as Israeli media reports the same day that the United States was requesting a one-month truce to discuss the ceasefire plan. Nikkei 225 futures and semiconductor-related stocks, which tend to reflect short-term speculative positioning, are rising across the board, the sources said. END [Copyright The Jiji Press, Ltd.]
Nikkei Average Jumps over 1,700 Points in Morning
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