Nikkei Tops 67,000 for First Time in Morning

Tokyo, June 1 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average briefly gained more than 900 points to top 67,000 for the first time on Monday morning, supported by expectations for continued U.S.-Iran negotiations over the Middle East situation. At 10:27 a.m., the index of 225 selected issues listed on the Tokyo Stock Exchange’s Prime section hit a fresh record intraday high of 67,231.28, up 901.78 points, or 1.36 pct, from Friday. On Friday, all three major U.S. stock indices rose as investor sentiment improved after crude oil prices fell on renewed expectations that tensions in the Middle East would ease. This positive tone was carried over into Tokyo at the start of the week, where rises in some large-cap semiconductor stocks helped lift the Nikkei average, market sources said. However, looking at the TSE Prime market as a whole, decliners outnumbered gainers as of around midmorning. With caution over high price levels lingering and uncertainty still surrounding the situation in the Middle East, many Tokyo stocks came under selling pressure, according to the sources. END [Copyright The Jiji Press, Ltd.]