Nikkei Ends above 66,000 for First Time Ever

Tokyo, May 29 (Jiji Press)–Japanese stocks climbed in trading in Tokyo Friday on hopes for an extension of the U.S.-Iran ceasefire, driving the benchmark Nikkei 225 average to a new closing high above 66,000. The Nikkei ended at 66,329.50, up 1,636.38 points, or 2.52 pct, from Thursday. The broader TOPIX index gained 55.16 points, or 1.41 pct, to 3,957.17, also a record high. A broad range of stocks were bought as investor sentiment picked up after oil futures fell on growing speculation that the United States and Iran will agree to extend the ceasefire. Artificial intelligence- and semiconductor-related stocks attracted hefty purchases in particular after U.S. technology issues were buoyant on Thursday. The Nikkei average “rose more than expected” as investors bought stocks to “avoid the risks of not having a portfolio or failing to catch up with the upward trend,” an official of a major securities firm said. END [Copyright The Jiji Press, Ltd.]