Tokyo, April 8 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average briefly surged over 2,600 points to top the 56,000 line for the first time in about a month on Wednesday morning, after the United States and Iran agreed to a ceasefire and crude oil futures prices plummeted. The index of 225 selected issues listed on the Tokyo Stock Exchange’s Prime section stood at 56,060.38 at 10:08 a.m., up 2,630.82 points, or 4.92 pct, from Tuesday. It last stood above 56,000 on March 5 on an intraday basis. U.S. President Donald Trump announced a two-week suspension of attacks on Iran on Tuesday and Iran was also reported to have agreed to a ceasefire, sending U.S. benchmark West Texas Intermediate crude oil futures temporarily plunging below 92 dollars per barrel. Investors welcomed the development and stepped up buying of a wide variety of Tokyo stocks amid growing expectations that the Middle East conflict may be moving closer to an early resolution, market sources said. In Tokyo foreign exchange trading, the dollar fell sharply to below 159 yen on Wednesday morning, as the trend of safe-haven dollar-buying reversed. At 10 a.m., the U.S. currency stood at 158.68-70 yen, down from 159.85-87 yen at 5 p.m. Tuesday. END [Copyright The Jiji Press, Ltd.]
Nikkei Soars 2,600 Points to Top 56,000 in Morning
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