Nikkei Average Soars to Retake 66,000 in Morning

Tokyo, Aug. 5 (Jiji Press)–Japan’s key Nikkei 225 stock average on Wednesday briefly firmed more than 2,200 points to retake 66,000 during trading hours for the first time in nearly two weeks. The index of 225 major issues listed on the Tokyo Stock Exchange’s Prime section stood at 66,170.04 at 9:30 a.m., up 2,212.51 points, or 3.46 pct, from Tuesday. The Nikkei last stood above 66,000 on July 23. Tokyo stocks tracked Tuesday’s climbs of their U.S. peers, as expectations for a de-escalation in Middle East tensions grew after U.S. Treasury Secretary Scott Bessent hinted in an interview with CNBC the same day that the United States and Iran may reach an agreement toward the reopening of the Strait of Hormuz. The treasury chief’s remarks led to drops in U.S. crude oil futures prices. “A wide range of investors, including individuals and foreign funds, are stepping up buying on dips and buybacks,” an official at a bank-affiliated securities firm said of the Tokyo market’s ascent. Artificial intelligence-related issues heavily weighted in the Nikkei attracted hefty buying, among them memory chip maker Kioxia Holdings and semiconductor-making equipment producers Advantest and Tokyo Electron. END [Copyright The Jiji Press, Ltd.]