Nikkei Ends at Record High on Middle East Optimism

Tokyo, June 1 (Jiji Press)–Japan’s key Nikkei 225 stock average finished at a fresh closing high Monday after briefly topping 67,000 for the first time, as growing optimism over the continuation of peace talks between the United States and Iran boosted purchases of technology shares. The benchmark index of 225 selected issues listed on the Tokyo Stock Exchange’s Prime section ended the day up 604.83 points, or 0.91 pct, from Friday at 66,934.33. Meanwhile, the broader TOPIX index shed 16.47 points, or 0.42 pct, to finish at 3,940.70. Tokyo investors were heartened by the climbs of key U.S. market indexes over the weekend, which reflected anticipation that continued talks between Washington and Tehran could help ease tensions in the Middle East and lead to the reopening of the Strait of Hormuz. Large-cap semiconductor-related issues attracted hefty buying, with tech investor SoftBank Group surging 14.02 pct to become Japan’s most valuable company. Meanwhile, more than 70 pct of Prime-section issues finished lower, with an official at a major asset management firm attributing the declines to profit-taking amid lingering uncertainty over U.S.-Iran talks. END [Copyright The Jiji Press, Ltd.]