Nikkei Rebounds above 61,000 after 5-Day Fall

Tokyo, May 21 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average surged past 61,000 to snap a five-session losing streak on Thursday amid receding concerns over the U.S.-Iran conflict. The index of 225 selected issues on the Tokyo Stock Exchange’s top-tier Prime section closed at 61,684.14, up 1,879.73 points, or 3.14 pct, from Wednesday, the first finish above 61,000 since Friday. It briefly climbed over 2,200 points during Thursday’s session. Because the Nikkei average had lost over 3,400 points over the past five trading days, stock prices were seen as “reasonable” and there were moves aiming to buy on dips, an official from a major securities firm said. END [Copyright The Jiji Press, Ltd.]