Nikkei Average Jumps to Recover 66,000

Tokyo, June 12 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average surged to recover 66,000 at Friday’s close, buoyed by broad-based buying on renewed anticipation for an end to the ongoing armed conflict between the United States and Iran. The index of 225 selected issues listed on the Tokyo Stock Exchange’s Prime section closed at 66,020.04, up 1,802.77 points, or 2.80 pct, from Thursday, the first finish above 66,000 since June 5. The broader TOPIX index climbed 51.61 points, or 1.35 pct, to 3,881.96. The Nikkei average briefly soared over 2,800 points in morning trading, as investor sentiment improved after U.S. President Donald Trump said on Thursday that negotiations to end fighting with Iran had reached a great settlement. Still, with artificial intelligence- and semiconductor-related stocks, such as memory maker Kioxia Holdings, continuing to support the market, profit-taking pressure remained strong after their rapid rises, limiting further gains, market sources said. “Given that the market has been tossed around by President Trump’s optimistic comments repeatedly, it has been hard to see a full-fledged risk-on mood take hold,” an official of a midsize brokerage house said. END [Copyright The Jiji Press, Ltd.]