Nikkei, TOPIX Hit All-Time Closing Highs

Tokyo, June 17 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average and the broader TOPIX index both hit record closing highs on Wednesday, backed by a fall in crude oil prices following the U.S.-Iran agreement to end their conflict. The Nikkei average closed at 69,902.25, up 497.75 points, or 0.71 pct, from Tuesday, after briefly topping 70,000. It posted a record closing high for the third consecutive session. The TOPIX climbed 22.09 points, or 0.55 pct, to 4,013.23, marking its first-ever close above 4,000. A wide range of stocks attracted buying as “a sense of security spread as the details of the U.S.-Iran deal gradually came to light and after the Bank of Japan’s policy-setting meeting finished (on Tuesday) without any surprises,” said an official of a major brokerage firm. Stocks related to artificial intelligence initially came under selling but picked up later as U.S. stock index futures climbed in premarket trading. “There were purchases from investors who wanted to avoid being left behind the advance of technology stocks,” said a Japanese bank official. END [Copyright The Jiji Press, Ltd.]