Tokyo, Aug. 5 (Jiji Press)–Tokyo stocks soared Wednesday on buying inspired by Tuesday’s rises in U.S. equities amid receding concerns over the Middle East turmoil, lifting the benchmark Nikkei 225 stock average above 66,000. The index of 225 major issues listed on the Tokyo Stock Exchange’s top-tier Prime section finished up 2,342.91 points, or 3.66 pct, from Tuesday at 66,300.44, its first close above 66,000 since July 23. Expectations grew for a de-escalation in the Middle East tensions after U.S. Treasury Secretary Scott Bessent hinted in a television interview Tuesday that the United States and Iran may reach an agreement leading to a reopening of the Strait of Hormuz. His remarks prompted drops in U.S. crude oil futures prices, which boosted major U.S. stock indexes. In the Tokyo market, investors actively bought stocks related to artificial intelligence technology and semiconductors as well as those with robust earnings results. “Signs of improving conditions in the Middle East supported global equity markets,” said an official of a major securities house. Still, a major asset management company official said, “Selling on a rally emerged at elevated price levels.” END [Copyright The Jiji Press, Ltd.]
Tokyo Stocks Jump on Receding Middle East Concerns
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